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Apr 12 - 03:55 AM

EUR/USD - Makes A Decisive Break To The Downside

By Jeremy Boulton  —  Apr 12 - 03:00 AM
  • EUR/USD drops below 2024 low at 1.0695 reaching 1.0682 EBS

  • Break will spur tech related selling and likely move into short positions

  • Break of 1.0650 - 76.4% 2023-24 rise would target 1.0517

  • Drop below 1.0596 would target 1.0448 - base ahead Sep-Dec surge

  • Gold surged to a record high shortly ahead USD's rise nL2N3GL0C9

  • Uncertainty about US rate path will support USD nL2N3GK0EY

Source:
Refinitiv IFR Research/Market Commentary

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