10-day low in the euro
The euro has slipped below Friday’s low in a fall to 1.1326. The euro had been higher for most of the day after finishing near the lows on Friday.
However the bounce in the euro has now faded and it’s down around 10 pips on the day.
The decline came as Draghi expressed some caution on the economy. Today’s IFO report also missed expectations slightly.
The 1-hour chart shows a fresh series of lower highs and lower lows in the past week.