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EUR/USD edges below 1.0800

The lack of traction in the EUR/USD has now seen the Euro fall more decisively below its 100 day moving average (1.0808) and just now dip underneath the 1.0800 handle too. The next support is now very close by and that is the 21 day moving average, which is right now at 1.0794. It remains to be seen if this technical level will cap further downside or not. It probably depends on stops right now too and whether or not there are some in place below that level. The EUR/USD is just now trading at 1.0797 
 

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