Euro erases gains on the day as dollar regains some poise

Technical Analysis

Author: Justin Low | eur

EUR/USD slumps to a low of 1.1427 from the highs earlier

Welcome to year-end trading, everyone. There isn't any headlines that is driving the move here but of note the dollar is gathering some bids as the session moves along after slipping early on in the day. EUR/USD has just slumped to a session low of 1.1427 in quick succession while we also see AUD/USD and NZD/USD move to lows of 0.7091 and 0.6742 respectively.

For EUR/USD, the pair failed to attempt a test of the 100-day MA as noted earlier and is now slumping to the lows. Of note, the yen is also holding up well as US equity futures are turning uglier on the day.

E-minis are slumping to session lows now, down by more than 0.7%:

Perhaps this could be some flows into haven currencies.

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