EURUSD daily

The euro is trading at the lowest level since November 2002.

It broke the July low of 0.9950 on steady selling over the past few hours. The catalyst has been a fresh risk in TTF natural gas and forward power prices. It was kicked off by the announcement of a fresh maintenance shutdown for the Nord Stream 1 pipeline.

The monthly chart shows little support until the lows from the early 2000s.

EURUSD monthly

Notably, today's low so far is only at 0.9949 on EBS, which is one pip below the prior low but different screens have it higher. So we may not have hit stops yet.

Update: Now it's truly broken with a low at 0.9934 and a wave of stops.