EUR/USD jumps to fresh highs of 30 months, aims at 1.1800

The US dollar lost strength after the beginning of the american session and then accelerated the fall, pushing the pair EUR/USD towards 1.1800. The couple went up from 1.1740 to 1.1797, peaking from January 2015.

USD began to fall after weak data from the US, then collapsed

The dollar began to decline after you are aware of the u.s. data. The Chicago PMI fell from 65.7 to 58.9 in July to its lowest level in three months, while sales of homes pending increased in June to 1.5% (0.7% annually). During the last hour, the dollar fell probably in the middle of some positioning of the end of the month with a low volume Monday.

The dollar index fell below 93.00, reaching a new minimum of 1 year at 92.88. Stays close to the minimum while the losses of the dollar is seen to be particularly against the european currencies. The pound, the swiss franc and the euro are rising against the dollar at the same rate.

Technical levels

To the upside, the levels of resistance could be put at 1.1800 (psychological level) followed by 1.1865 at least January 5, 2015).

On the other hand, the support can be seen at 1.1760/65 (maximum of 28 July) and 1.1720 (daily minimum).

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