EUR/USD slips below first support

Much earlier this morning we noted how the rebound in the EUR/USD such as it was, was not impressive and basically what is known as a dead cat bounce. In that update we noted the first minor support, at 1.1131, should the price fall back further as we expected. If you remember the other day we also noted the EUR/USD has friendless, but of course it did bounce back to 1.1251 yesterday. Nevertheless, that has also been reversed and more so now, because it has just dipped below that 1.1131 level. 

So, that now opens up the next minor support, at 1.1105, which is the year to date low for the Euro too. That is most definitely on the radar now. The EUR/USD is right now at 1.1126