The euro is close to a 12-year low as the ECB embarks on QE.
The euro has fallen in seven of the past eight days in a repeated plunge to fresh 12-year lows. One of the scant levels of support in the Aug 2003 low of 1.0761 was broken today and that leaves very little on the chart until parity.
The orderboard shows some bids at the intraday low of 1.0723. Large buyers are at 1.0700/1.0690. Medium-sized bids at 1.0675-65 and 1.0625/20.
Some offers are building at 1.0790, more at 1.0805, 1.0825 and the US high of 1.0882. There is also a modestly-sized option expiry at 1.0900 tomorrow.
