Will EUR/USD sell-off last?
EUR/USD has seen significant selling to kick off 2017, falling 0.9% since yesterday’s open. The break below $1.0462 in December seemed to highlight the potential for a sharp deterioration in January. However, the rally back above that level brings the possibility of a resurgence.
With that in mind, the bearish outlook comes back into play with a break back below $1.0372. Until then, there is still a very real possibility of a rebound, and with the pair now trading below the 76.4% pullback, this seems like an interesting area for bulls.