Cutting to the chase, UBS say the next technical levels below to watch for breaking are:
- 1.0670
- 1.0645
- 1.0600
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This time last week EUR/USD had gapped down to open the new week on the political news out of France. As wrapped up here:
While the (politics) gap did get filled in later in the week we are lower now, sitting just above 1.0700 in (very) early Asia time.
UBS on the EUR:
- lower, driven by European politics and market risk sentiment
- most of the action is in EUR crosses not in EURUSD ... EURCHF and EURJPY downside as is normal in a risk off environment
I stuck an arrow there to the wee gap this time last week.
1.0670 ish was the low Friday, for those other two levels UBS nominate, check out the daily chart.
