Chart of the Day – EURUSD – (August 9th, 2021)

The EURUSD has been trading heavy and with the “stronger” US data as of late, the market is starting to anticipate the possibility of a “taper” of bond purchases by the FOMC by year end. As a result, the EURUSD looks set to test the horizontal support at the 1.1700 level which are also the March 2021 lows. A break of this level puts the 1.1655 level in view next.