EURUSD breaks lower

The EURUSD tumbled as the dollar gained ground over its competitors.

• After a short-lived grind over 1.1200, a bearish breakout could seriously dent the bullish bias.
• The next round number at 1.1100 is the target for support as the RSI sinks into the oversold zone.
• 1.1190 is the first hurdle to lift, with 1.1120 at the base of the recent bounce as the next target.

USDJPY tests support

The US dollar rallied, but remained pressured as traders worry over a loss of momentum.

• Sentiment is downbeat as the psychological hurdle of 157.00 seems a tough level to crack.
• A close above 158.00 would confirm the bullish fever and send the greenback towards 158.00.
• 156.20 is the closest support in case of a prolonged consolidation.

SPX 500 hopes to bounce back

The S&P looked to stop the rot as the index hit major losses in the past few sessions.

• The latest retracement has been contained above 7600 near the origin of a previous rebound.
• A fresh high above 7700 would consolidate the bulls’ confidence and trigger a broader recovery.
• 7840 remains the top target but looks unlikely as price action slumps to a fresh low.
  

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