EUR/USD takes out 1.15 in Asian trading

As you can imagine there was little interest or action across the US markets and with almost all of Europe and the US closed on Friday the price action in the dollar was subdued. So, the EUR/USD, which did edge a little higher, remained below 1.14 ahead of the weekend. Well, as soon as Asia reopened the dollar has been hit hard. The USD/JPY has fallen below 141 and the EUR/USD has extended an upside break above 1.1473 (the high seen on April 11). That move has also seen it take out an important technical level, at 1.1500. One catalyst for this has been the threats made by Donald Trump, to remove the Fed boss, Jerome Powell. That is because the Fed refuses to play to his song sheet and reduce interest rates. This is resulting in a further loss of confidence in the US dollar ands US assets, be they stocks or bonds and that is forcing the dollar ever lower. The next really big level for the EUR/USD now resides at 1.2026 ( A major monthly downtrend level and the current price point of the 200 month moving average). The high seen so far today has been set at 1.1529. There will be plenty more to add on this today. The EUR/USD is right now at 1.1525