It's not been a good morning for the euro but others have been quick to take full advantage
I've been banging on about the euro weakness this session with a combo of ECB fears, and now with stronger equities we're seeing the currency slide further.
The knock-on effect has been notable with EURAUD selling bringing a solid rally to AUDUSD to test strong resistance/offers at 0.7500.
EURGBP is down to test strong demand/support around 0.7700 and that in turn has given a cable a spring in its step to 1.4242, a move I highlighted earlier. Softer UK data has done little knock it back much lower but 1.4250 remains a good resistance area again with stronger sell interest into 1.4285-1.4300.
EURJPY continues to be a prime mover with year-end yen repatriation in focus and fears of BOJ easing receding more and more. That pair is testing strong support at 123.00 which in turn is capping USDJPY and now 112.33 after holding good support at 112.20.
EURCHF is the notable exception with the price underpinned by what we may safely assume is SNB intervention.
EURUSD meanwhile is easing ever lower but yet to breach 1.0945-50 support which if broken should see further euro falls across the board, but watch for breaks lower in EURJPY and EURGBP to provide their own momentum.
