EUR/USD turning lower amid dollar resurgence
EUR/USD has been moving lower this morning, following on from the largely sideways price action overnight. The pair has been gradually moving higher over the past week, yet the clearly defined downtrend looks likely to persist soon enough.
The signal that we are going to see the price turn lower in a meaningful manner would be a break through $1.1626, and in particular $1.1606. Until then, there is still a chance we could be looking at a retracement of the $1.1606-$1.1687 rally.