EUR/USD has taken another leg to the downside as the market unwinds last week’s rally-ette. A break below the 1.2250 area is seen as a trigger point for the last of the short-term bulls to head to the sidelines. We have multiple lows in the 1.2250/60 area from last week with only the 1.2209 support left on the near-term charts below that level. Offers are seen on rebounds to 1.2300/20 on rebounds. We trade now at 1.2273.
