• EUR/USD sinks to 1.1632 EBS its lowest since April 8

• Pair drops below 55-DMA at 1.1646

• Challenging midway point of Mar-Apr range at 1.1629

• Apr 8 low was 1.1589 and 61.8% Mar-Apr range is 1.1577

• This week's series of lower daily highs may encourage sellers

• Traders are long euro and oil has risen back to $108/pb

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EURUSD


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)