EUR/USD falls to a fresh four-month low of 1.1825 to start the session
The dollar looks poised to extend its upside momentum on the week and as it challenges key technical levels across multiple charts, things are starting to line up strongly in favour of the greenback as buyers push the agenda.
For EUR/USD, this is seeing price tumble further on the week to its lowest level since 23 November last year.
The drop yesterday took out the 200-day moving average (blue line) and price has now broken the early March lows @ 1.1836, leaving little in the way of a push to 1.1800 next.
A break below the figure level will then pave the way for a potentially bigger drop towards the September and November lows closer to 1.1600 – going by the charts.