EUR/USD hits seven-month low
The resurgence in EUR/USD was short-lived, with Friday seeing the bears return once more to push the EUR/USD back down towards the seven-month low that has been hit early this morning. The downtrend is clearly back in play, and thus the drift higher we are seeing currently is likely to be short term before we see the price sell off once more. The next major support zone comprises of the March and April lows of $1.052 and $1.0462. However, in the meanwhile this move higher could find resistance at $1.0640 or $1.0667. This bearish view holds unless the price closes above $1.0708.