No let up in the euro's pain as it chugs to new lows

EURUSD on the receiving end of a Friday kicking

There's a certain amount of chin scratching going on around this move in the euro. What started at the fix and was helped by some weekend covering has continued.

We're looking at the lowest close in nearly a month as we hit a new low at 1.0960.

EURUSD daily chart

The Brexit low at 1.0910 is in focus and if we close on the lows tonight, we could well be paying that low a visit sometime next week. If that goes the next strongest level I see is down at 1.0800/20.

1.0980 is already resistance after the 1.10 break and we're probably going to see more building here at 1.0965/70.