FURTHER EURUSD SELLING LIKELY UNDER 1.1616
The euro continues to fall against the U.S dollar during the early European trading, with the EURUSD hitting a fresh-low of 1.1615. Broad based strength in the U.S dollar index and fears of escalating protests in Catalonia over the weekend are adding to the euros woes on Friday. Currently the EURUSD pair trades around the 1.1620, ahead of the release of third fiscal quarter GDP figures from the U.S economy.
Should intraday EURUSD sellers push price-action back below the 1.1615 level during the U.S session, a further decline 1.1610 and 1.1580 should be expected.
If EURUSD buyers can push price-action back above the key 1.1660 level, the euro will likely move to test its 100-day moving average, at 1.1679 and the 2015 price high, at 1.1713.