New low for the EURUSD as it remains the currency of the day (to the downside). The EUR is the weakest of the majors. The EURUSD is now down -0.38% . The EURNZD is the weakest of the EUR pairs at -0.92% and is down -0.78% vs the CHF.
Looking at the EURCHF, it is also reaching a new low and in the process is retesting its 200 day MA at 0.9936 (see green line on the chart above). The price moved above the 200 day MA last week for the first time since June 2022. The subsequent run to the upside saw the price extend above the 38.2% of the move down from the March 2021 high at 1.0070, but stalled just ahead of the 1.0100 level, before rotating back to the downside..
So far, the EURCHF is finding support buyers near the 200 day MA. The low price reached just below the level at 0.99346 and currently trades at 0.9942.
A move below -with momentum – would give the sellers more confidence.
Conversely, holding and the technical longs/buyers from the break above the 200 day MA, can breathe a sigh of relief..