EUR/USD closes in on 1.1000 as dollar keeps more firm
EUR/USD eases to a session low of 1.1004
The pair is nudging back towards a test of the 1.1000 handle as the dollar is a little higher to start the session amid weaker yields (bonds trading firmer).
Sellers have been keeping the downside momentum in the pair since the break below the 100-day MA (red line) and the trendline support in trading last week.
The 1.1000 level is the next test and will be a key focus in trading today as traders try to navigate through the changing risk mood ahead of the Fed later in the day.
From a technical perspective, there is also an added layer of support around 1.0981-89 for the pair but if that gives way, it will open up a potential move towards 1.0900-25 next with sellers likely to eye the 1 October low @ 1.0879 as well.