Euro on the slide again as CHF and JPY demand prevail

Author: Mike Paterson | Category: News

Euro pairs in retreat again 10 Aug

EURGBP testing 0.9020 which is helping to underpin GBPUSD more than the UK data releases imho, with EURCHF breaking back down through previously decent lines at 1.1320 to post 1.1309 and EURJPY down to  128.70 as USDJPY also fails to hold above 110.00

EURUSD retreating under the cross pressure to post 1.1711 lows as European equities extend opening losses to add to the downside momentum.

Expect demand into 1.1700, with EURCHF support around 1.1300 , EURJPY around 128.50 and EURGBP into 0.9000 which may well coincide with GBPUSD testing 1.3000.

                                                        EURCHF

                                                      EURJPY

                                                    EURGBP

                                                  EURUSD