EUR/USD falls to fresh two-week lows as dollar gains gather pace

Technical Analysis

EUR/USD looks for a firm break under its key daily moving averages

EUR/USD D1 17-03

It looks like the blowup in funding pressures today is helping to settle the debate earlier in the day on which side EUR/USD may be looking to break out.

As mentioned then, one of the moving parts is dollar funding pressures but the blowup today has certainly seen a massive surge of flows into the greenback this morning.

EUR/USD has now fallen by 1.5% to fresh two-week lows and is looking for a firm break below the 100 and 200-day moving averages @ 1.1068 and 1.1097 respectively.

Keep a break under those levels and the bias in the pair turns more bearish once again. Further support is now seen closer to 1.0980-00 next.

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