• EUR/USD testing lows near 1.0968, extending losses versus the US dollar ahead of Europe open
  
  
• PBOC move spooked market sentiments boosting safe currencies such as US dollar across the board
  
  
• Euro edges lower despite underlying support on optimism towards Greece sealing a multi billion-euro bailout deal with its lenders
  
  
• 1.0982 (4h Tenkan-sen) offers resistance ahead of the crucial 1.10 handle, while supports on the downside are seen at 1.0959 (10-Day MA) and then at 1.0952 (21-Day MA)
  
  
• Markets focus on German ZEW and WPI data ahead of US data releases due later in the day for further momentum
  
  

Resistance Levels:

R1: 1.0981 (Tenkan-Sen)

R2: 1.1012 (Kijun-Sen)

R3: 1.1041 (Session high August 10)

Support Levels:

S1: 1.0959 (10-Day MA)

S2: 1.0952 (21-Day MA)

S3: 1.0948 (Session low Aug 9)