EUR/USD heads lower
Upside momentum continues to fade here for EUR/USD, as the price pushes below yesterday’s low. A further decline will bring the $1.1662 level into play. A rally requires a move above $1.19, which would then bring $1.20 and $1.21 into view.
We will likely have to wait until US consumer price index (CPI) and retail sales data this afternoon for further clues as to whether the new week will begin with a bullish or bearish view.