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EUR/USD sets new 2024 low underneath 1.0695

Well, it was always likely, but now the EUR/USD has taken out the existing 2024 low, at 1.0695. The move has not extended that far yet, but it has busted the level. The risks of this were always a distinct possibility and now it has unfolded, the question right now, is how far might this extend? Well, a tough one to call exactly, but many are now talking about this opening up a potential fall towards 1.05. To be honest, right now there is not much to argue against that, but as usual it does not necessarily indicate a straight line fall. The EUR/USD is currently trading at 1.0684 as the USD index lifts above 105.60 now

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