EURUSD pops 1.1800 as euro retreat continues

Decent support at 1.1800 now history 26 Sept

It’s been more a grind rather than a tumble but we’ve nowe chewed away at the 1.180 support/bids to post one-month lows of 1.1794

EURJPY down to 131.82 after giving up on decent support of its own at 132.00 with EURGBP already having broken strong support at 0.8780 but so far holding 0.8750.

I did say in an earlier post that EURGBP demand could well help to cap GBPUSD and so it’s proved with the pair now down through decent support/demand at 1.3450 to post 1.3443 as general USD buying prevails.

USDJPY up to 111.77 USDCHF 0.9711 USDCAD 1.2389 helped by oil price retreating.

So, a few lines in sand now washed away and we need to see how much appetite euro sellers have to keep pushing on lower. We can anticipate demand in the dips but there will be sell interest building for any significant rallies.

                                                    EURUSD Daily

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