EURUSD tests 1.10 handle again

The greenback continues to strengthen again and the EURUSD pair was down 0.5% on Tuesday, testing the psychological level of 1.10 to the downside. 

If this support is decisively broken, the next downside wave could push the single currency toward 1.09 or 1.08. It is hard to define any supports right now, as volatility continues to be elevated and the market is swinging wildly. 

Alternatively, if the euro starts to strengthen again, the selling levels could be at around 1.1050 and afterward at the last week's peak of 1.1150.

The demand for the greenback should still be high, thus the US dollar could be strengthening, however, the Fed is printing money at an unprecedented pace, which could undermine the US dollar from the long-term point of view.

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