EUR/USD drops 0.3% to 1.1960 on the day
The dollar continues to keep steadier across the board and is gaining some decent ground to start European trading. EUR/USD in particular is seen a quick fall to 1.1960 from around 1.1990 earlier with the 200-day moving average (blue line) @ 1.1992 now giving way.
From a technical perspective, that leaves little in the way of a potential shove towards 1.1900 and the 61.8 retracement level @ 1.1919 next.
Given that there is a divergence in messaging by the Fed and ECB this week, this play may stay the course through to the end of the week at least.
For now, sellers are firmly in control and setting their sights on 1.1900.
