Heavy selling came in at the key 1.0400 handle and the break of trend line resistance turned support indicates that there is no longer any upside momentum.
Expecting risk aversion to continue unless there are developments out of the Spanish elections.
Next level of support comes in at 1.0280 and if that gives way then I'll be looking to sell heavily into 1.0150 which a break of should expose parity and lower.
On the upside 1.0400 brings in sellers which if overcome exposes 1.0550.
Expecting risk aversion to continue unless there are developments out of the Spanish elections.
Next level of support comes in at 1.0280 and if that gives way then I'll be looking to sell heavily into 1.0150 which a break of should expose parity and lower.
On the upside 1.0400 brings in sellers which if overcome exposes 1.0550.