The selling pressure around the single currency is picking up further pace at the end of the week
and is motivating EUR/USD to trade closer to the key support at 1.0900 the figure. EUR/USD is so far losing ground for the second session in a row on the back of the recent recovery in the greenback, which in turn met support in the demand for the safe-haven universe.
In fact, renewed concerns on the US-China trade front and the China-Hong Kong scenario have gathered extra pace in past hours, prompting investors to dump riskier assets in favor of safer ones, like the dollar, the Japanese yen and US bonds.
At the moment, the pair is losing 0.29% at 1.0916 and faces immediate contention at 1.0774 (weekly low May 14) seconded by 1.0727 (monthly low Apr.24) and finally 1.0635 (2020 low Mar.23). On the upside, a breakout of 1.1008 (weekly high May 21) would target 1.1012 (200-day SMA) en route to 1.1019 (monthly high May 1).