The U.S. dollar gave up brief early gains on Monday as mounting concerns about a slowing U.S. economic recovery from the coronavirus pandemic hobbled the currency after a brief rebound late last week. The euro traded almost unchanged at $1.1768 (EUR=), coming off a low of $1.1741 touched earlier in the session, though it is still more than a cent below Friday’s two-year high of $1.1908.
The common currency hit a speed bump on some technical signs of being over-bought in the near-term, and with speculators’ long positions hitting a record level.
TREND : WEAK BEARISH
Time : 03/08/2020
Pivot : 1.1771
Technical View : SHORT BELOW 1.1751
Target : 1.1731, 1.1708, 1.1681