December 8, 2022

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EUR/USD extends fall to two-month lows on post-FOMC hangover

1 min read

EUR/USD drops 0.3% to 1.1960 on the day

EUR/USD D1 17-06

The dollar continues to keep steadier across the board and is gaining some decent ground to start European trading. EUR/USD in particular is seen a quick fall to 1.1960 from around 1.1990 earlier with the 200-day moving average (blue line) @ 1.1992 now giving way.

From a technical perspective, that leaves little in the way of a potential shove towards 1.1900 and the 61.8 retracement level @ 1.1919 next.

Given that there is a divergence in messaging by the Fed and ECB this week, this play may stay the course through to the end of the week at least.

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