December 4, 2022

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EUR/USD eases to lows of the day as dollar holds firmer on the session

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EUR/USD falls to 1.2170 on the session

EUR/USD H1 02-06

Despite rather muted sentiment in the market, the dollar continues to keep firmer in European morning trade as EUR/USD falls to a fresh low on the day.

The pair now eases further to 1.2170, down 0.3% as the greenback stretches gains slightly.

There is some support here from previous swing region instances but the key one to watch will be the 28 May low @ 1.2133, which coincides with the 23.6 retracement level of the upswing from late March to the end of May.

That was where buyers managed to get a bit of a reprieve last week so it is a familiar support level in case sellers start to explore further downside after breaching back below the key hourly moving averages @ 1.2205-10 earlier in the day.
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