Back below celing from yesterday’s trading as well. ECB comments helping to weaken the pair.
The EURUSD has had a wild (relatively) ride today with the pair racing higher after making new 2019 lows at 1.1100 (taking out the prior low at 1.11064), but failing.
That failure, and comments from Draghi/short covering, sent the pair higher. The run took the pair above the 100 hour MA but could not breach the 50% retracement.
The pair just cracked below the midpoint of the day’s range at 1.11441 and before that, the high ceiling from yesterday’s trading at 1.11544. The low reached to 1.11374. Comments just out from the ECB about “almost certain cut in September” is helping to pressure the pair.
The 1.11339 is the 61.8% of the day’s range Below that the low from yesterday at 1.1126 andn then the 1.1100-06 area become the key targets to get to and through (and stay below).