The pair is down 0.5% on the day to 0.7070 levels at the moment, pushing to its lowest since 7 December.
It might not look like much but sellers are hoping to keep a break below 0.7100 and the support region of 0.7082-00 at the moment. In doing so, that will help to establish a good base to build on a downside push towards 0.7000 next - since there is little else standing in the way.
The more hawkish Fed yesterday is the key driver of moves in the dollar and FX at the moment, where we're also seeing potential technical extensions elsewhere as highlighted for EUR/USD and NZD/USD earlier.
