EUR/USD breaks lower once more
EUR/USD has continued its descent this morning, with price breaking below the key $1.0710 support level. That means we have now created a new 2016 low this morning. This break also provides the completion of a descending triangle, with another leg lower likely to ensue.
As long as we do not break back above $1.0759, then a sell-off looks like it is upon us. However, a break above $1.0759 would point towards either a retracement higher, or a continued period of consolidation.