EUR/USD closed last week below its 100-day MA for the first time in 8 months. Persistent worries about the state of the European banking system will add to the technical factors in undermining the single currency, with the USD likely to be the main winner. Next major technical targets for the EUR/USD are at 1.4445/80.
The interbank open has been uneventful so far with the EUR/USD at 1.4618, USD/JPY at 89.00, cable at 1.6255 and AUD/USD at .9110.
Good luck today.
