Race to the bottom

The euro is outstripping the dollar in their race to the bottom. Having respected resistance at $1.40, breakout below $1.35 would signal a test of the next major support level at $1.30*. The 63-day Momentum peak below zero confirms a strong down-trend.

Euro EURUSD

* Target calculation: 1.40 – ( 1.50 – 1.40 ) = 1.30