EUR/USD reaches new lower high
Yesterday’s European Central Bank (ECB) meeting provided an excuse for further selling, creating a new lower high for the EUR/USD.
This followed on from the turn lower in mid-February. The next target is $1.2165, with the November rising trendline in sight just below this. The next area to watch for support is $1.2093. While some rebound is to be expected, any bounce that fails to move above $1.2450 is another possible selling opportunity.