EUR/USD heading lower once more
EUR/USD is turning lower yet again, with the pair threatening to break out of the recent period of consolidation that has greeted the widespread losses of last week.
The key to expecting another strong move lower is the ability to break below the $1.1510-$1.1543 support zone. Given the minimal retracement so far, there is still a chance of short-term gains. However, with the price seemingly breaking down, it could make sense to look for a move below $1.1510-$1.1543 zone to signal the next bearish leg.