• EUR/USD seeing some bounce in Asia after plunge to 1.1161 EBS yesterday

• Asia so far 1.1214-31, concerns still bounce could be of 'dead-cat' variety

• France fiscal-political concerns, concerns too over upcoming Spain elections

• Risk to remain down? USD still broadly bid across the board, upside limited?

• EUR/USD low yesterday weakest since 1.1131 May 29, 2025, key support?

• Break below 1.1100 could see moves even lower, 1.1065/89 lows May 12/13 '25

• Resistance from descending hourly Ichimoku cloud currently between 1.1252-76

• Cloud to fall later to 1.1217-48, if spot holds, likely move into cloud

• Also descending 100-HMA currently in cloud at 1.1270, 200-HMA 1.1321 above

• 50% retracement of 1.0125-1.2084 move February '25-January '26 1.1045 below

• Large option expiries today mostly to upside, 1.1245-50 total E1.2 bln

• Also between 1.1300-50 strikes total E2.6 bln+

• Recent EUR weakness seen likely to keep ECB from rate hikes at this time

• Related comments , , ,

• And , , also

• Related analysis , for more click on [FXBUZ]

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(Haruya Ida is a Reuters market analyst. The views expressed are his own)