EUR/USD opens -0.92% after completing a bearish outside day reversal

Initial strength after hawkish ECB message failed ahead of key resistance nL1N2XW0AB

Steep fall followed as ECB failed to take steps to avoid fragmentation nF9N2WY003

Concerns peripheral EZ yields will widen against bund yields intensified

EUR/USD topped at 1.0774 - short of key 38.2 fibo at 1.0786

The close below the 21-day MA (1.0646) portends more weakness

Minor support at 50% of 1.0349/1.0787 move at 1.0568

More support at the 61.8 of that move at 1.0516 and break targets 1.0349

The 21-day MA at 1.0646 is now resistance on rallies

US CPI later today and reaction in US Treasury yields focus later today

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