December 4, 2022

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EUR/USD falls through post-FOMC low as the dollar firms further on the week

1 min read

EUR/USD slips to its lowest level in nearly three months

EUR/USD D1 01-07

The pair is down to 1.1840 and that is the lowest level since 6 April as the dollar continues its hot run this week, not letting up even in month/quarter-end trading yesterday.

The technicals are what may be the more important story in trading today with the fundamental side of things waiting on the sidelines ahead of the non-farm payrolls release.

The break below the 18 June low @ 1.1847 now spells danger of a further drop in EUR/USD towards 1.1800 next with sellers perhaps keenly eyeing the late March lows.

Adding to the dollar momentum is the close and break above 111.00 in USD/JPY yesterday and that is another key technical chart to watch in the day ahead.

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