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EUR/USD drops below 1.1100 towards technical support at 1.1095 (corrected)
Following on from the previous few updates, noting the reaction in the EUR/USD to the really poor French and German PMI data, the Euro has now fallen below the 1.1100 handle and it has come close to a test of a reasonably important technical level, at 1.1095. That is the price point of the current 21 day moving average and it might yet provide some support. It has not been breached yet, but there could be stops in place below the level- that remains to be seen. The low seen so far has been set at 1.1098 which is incidentally right on the 10 day moving average. The EUR/USD is currently trading at 1.1100
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