EUR/USD finally decides to find some relative movement on the day
Price is now just under the 1.1100 handle for the first time since 11 December as sellers are trying to establish more downside momentum on the week.
That said, price is testing the 50.0 retracement level @ 1.1090 and that is stalling the drop for the time being. A further drop may pave the way towards 1.1065-70 next before revisiting the swing region around the 1.1050 level.
There isn't much to really bring about the move here but European stocks are tracking higher on the day and that is lending to some relative weakness in the euro and franc on the session. The DAX is now up by 0.6% as we near London midday.