EUR/USD back to key support level
EUR/USD has sold off once more, with the pair breaking through the 50-hour simple moving average support to push towards the crucial $1.1335 support level. We have seen this pair bounce from close proximity to this level on four occasions and thus another spike could be on the cards.
Shorter term intraday charts are worth watching for signs of a reversal at that level. Alternately, an hourly close below that level would provide a bearish signal of a potential break lower. At which point the Fibonacci support levels of $1.1291, $1.1257 and $1.1214 come into view.