EUR/USD drops through support zone
EUR/USD is pushing below the key support zone, around $1.15, that has held since the end of May. A close below $1.15 would mark a bearish development, opening the way to $1.13 in the first instance, and then down to $1.1119.
A rebound could well see the price move back towards the highs of Wednesday and Thursday, around $1.1640, but even here fresh selling could well contain any further upside. Beyond this, the $1.1750 high from late July marks a key level that needs to be broken for any sustained bullish momentum to develop.