EUR/USD falls to session low, down by 1% on the day now

Technical Analysis

Author: Justin Low | eurusd

EUR/USD falls to its lowest level since 26 March as the dollar keeps firmer

EUR/USD H1 01-04
ForexLive
It is all about the dollar and and the yen in the major currencies space, as both currencies are keeping firmer on the day amid the softer risk mood in the market.

EUR/USD has now fallen to a low of 1.0917, the lowest level since 26 March last week and down by 1% on the day.

Notably, price is closing in on a test of the 200-hour MA (blue line) @ 1.0910. If sellers can drive price below the key near-term level, that will add to the downside momentum upon a break of the key daily moving averages seen this week.

That will be the key line in the sand for EUR/USD as we look towards the coming sessions.

For now, the dollar is continuing to hold its ground on the week but let's see what Wall Street has to say about the risk mood and the greenback performance.

That will be the key vote of confidence to determine how sentiment is going to develop over the coming sessions after the volatile month-end and quarter-end flows yesterday.

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