EUR/USD challenges support at 1.1000 area

EUR/USD has set fresh 3-week lows during the New York session as the dollar continued to strengthen across the board, helped by better-than-expected US housing data.

EUR/USD bottomed out at 1.0999, just a couple of pips below last week’s low with the euro also feeling pressure from ECB Draghi reported comments.

According to news reports, Draghi said that the ECB needs time to assess Brexit impact and the policy response.

EUR/USD technical levels

At time of writing, EUR/USD is trading at 1.1009, down 0.59% on the day. In terms of technical levels, next supports could be faced at 1.0999 (Jul 19 low), 1.0911 (post-Brexit low, Jun 24) and then 1.0820 (Mar 10 low). On the other hand, resistances line up at  1.1088 (200-day SMA), 1.1164 (Jul 14 high) and then 1.1185 (Jul 5 high).