EUR/USD falls to set a new 2024 low

Yesterday updates here focused on the prospect of the EUR/USD falling to a new post US election low underneath the 1.05 handle and that is exactly how it played out. The EUR/USD was the victim of a 4pm London Fix sell order and that move later extended towards 1.0450 ahead of the European close. The low seen then was set at 1.0462 and the Euro later posted its first daily close of the year below the 1.05 handle, ending the US session at 1.0474. At this point the reader is alerted to the 2023 low, which was set at 1.0448. That has not been put to the test yet and the low seen so far today has matched that seen yesterday, at 1.0462. There will be more to add later today, when also looking at the price action across the Dollar index (USDX). The EUR/USD is currently trading at 1.0470