EUR/USD hits fresh 1-week lows

EUR/USD has extended losses to fresh lows as selling pressure intensified at the beginning of the New York session.

EUR/USD lost over half a cent throughout the day and bottomed out at a 1-week low 1.1252 in recent dealings.

In the absence of first-tier data, there were no clear catalysts for the decline. Later on the day, US reports housing price index and existing home sales for June while main focus remains on Jackson Hole Symposium, where Fed’s Yellen will speak on Friday.

EUR/USD technical levels

At time of writing, EUR/USD is trading at 1.1260, 0.38% below its opening price, with next supports seen at 1.1224 (100-day SMA) and 1.1200 (psychological level). On the other hand, resistances could be found at 1.1310 (Aug 24 high), 1.1365 (Aug 18 high), 1.1400 (psychological level) and 1.1427 (Jun 24 high).