Chart of the Day – EUR/USD – U.S Dollar is at Resistance

Investors are flocking to the US dollar as the Coronavirus scare continues to push investors out of risky assets such as equities and into trusted currencies such as the dollar. While the dollar is at resistance, EUR/USD trades near important support. The pair is currently battling the 1.1000 handles which have been an important and well-respected level over the past few months. Granted, the pair is currently trading below it, but it might be too soon to call a sustained break. A sustained break of 1.1000 targets 1.0926 while a recovery from here could lead to a rally to 1.1078 resistance.