It’s taken some time but the market looks to be taking the court decision on OMT as a sign that one hurdle is out of the way for the ECB.
We’ve fallen through the 2015 lows to 1.1730 as I type and have a big tech gap to the 2005 lows at 1.1640
EUR/USD Monthly chart 14 01 2015
One point to keep an eye on is EUR/GBP and the 0.7740/45 level containing the 50 fib of the 2000 swing up. 0.7739 is the low there and that holding may give some support to EUR/USD.