Like the old lady in the classic ’80s commercial, EUR/USD has fallen and it’s showing few signs of getting up.
Not much of a bounce even through we’ve held the 21-day moving average thus far.
1.3261 is the 38.2% retracement of the straight shot from 1.3341 down to 1.3214; that’s the first resistance of note. 1.3290/00 should be tough to overcome on rallies near-term. We have both the 61.8% retracement of the post-Fed drop and the solid intraday support broken shortly thereafter now acting as resistance.
