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EUR/USD only gets half the job done so far

Yesterday evening the dollar came under renewed pressure versus all its major counterparts, including the likes of the CAD and the AUD (more on those later) and that saw the EUR/USD lift further above 1.10. The high seen in the EUR/USD was set at 1.1013 heading right into the US close. The Euro closed in the US at 1.1011. So, it managed to just surpass the first of the most recent highs, at 1.1009. However, it did not get above the more important 1.1019 level, which means in essence that double top is still in place today. An earlier attempt to get past that price pint also stalled at 1.1013. It has since backed off, but not by that much. The low seen so far has been set at 1.0994. Hence, a potential rise above 1.1019 hangs in the balance this morning. There is no doubting the US dollar is still under pressure overall, but it remains to be seen, if the EUR/USD can take better advantage of that. The EUR/USD is currently trading at 1.0999
 

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