EUR/USD trades at the lows for the day just under the 1.1200 handle
Price attempted a move higher in overnight trading but failed to break above the 100-hour MA (red line) as sellers maintain the near-term bearish bias in the pair. Thereafter, price extended lower and today we're seeing it fall back towards the 1.1200 handle with sellers eyeing a move towards the 7 March low at 1.1177.
Of note today, there will be large expiries rolling off at 1.1200 so that could help keep price action limited and around the figure level for the time being. The fact that risk sentiment remains rather muted with bond yields retracing a bit of the move higher overnight and equities being flat isn't helping to give markets much direction.
In the grand scheme of things, if price does secure a daily break below the 1.1187 level then it could open up the next leg lower for sellers:
