EUR/USD touches a low of 1.1806 on the day
The pair is now leaning on the support level from 25 December (Bloomberg has this printed at 1.1812). Both the euro and sterling are the weakest performers on the day currently, but levels in the EUR/USD is now reaching a sort of make-or-break moment.
The support above has helped to stall declines last week as well as yesterday, so this will be a key test for sellers and buyers.
A break below opens up a move towards support around the 1.1690 to 1.1728 region, which is basically quite a drop for the pair from current levels.
Meanwhile, EUR/CHF also falls to one-month lows at 1.1810. This will be a pair I'd be keen on watching for the potential to reload on longs. But that will hinge on euro sentiment and if EUR/USD enters into a bit of a free fall, it's wise not to try and catch a falling knife.
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