EUR/USD breaks the February lows
It’s never a good sign when something closes on the lows. That’s especially true when it comes at the end of the month.
So while today’s euro selling may be related to month-end flows, the technical picture is poor.
On the daily chart, the break of the Feb low signals a double-top at 1.25 with a potential slide to 1.19 in the cards.
The major upcoming worry is the Italian election on March 4. Some kind of hung parliament is likely with the 5-Star Movement holding the most seats but no party or natural coalition with enough support for a majority.
Here is a primer.