Technical Analysis EUR/USD for 8/18/15

EUR/USD has eased under 1.1080 to N.Y. session lows, more than undoing the post-Empire State index gains. Dollar gains come in the aftermath of the better NAHB index outcome, and the rebound in U.S. equities. With the pairing now below the overnight low of 1.1080, the door is now open for a test of the August 12 base of 1.1025, which coincides with the 10-day moving average.  Momentum remains positive with the MACD printing in the black with an upward sloping trajectory.

Earlier today the U.S. reported that NAHB homebuilder sentiment index rose to 61 in August from 60 in June and is the highest since November 2005. The single family sales index edged up to 66 versus 65 last month. The future sales index was steady at 70.