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EUR/USD broke below $1.3680

EUR/USD broke below the key $1.3680 support on Wednesday. As we said yesterday, this is a clear indication that the bears have taken the pair under control. On Thursday euro found some support on the key 55-day MA ($1.3650). 

UOB: “However, only a move below the key support at 1.3635 will suggest extension lower towards $1.3550. In the meanwhile, we expect $1.3635 to $1.3740 trading range in the next couple of days but unless there is a clear move above $1.3740, the risk appears to be greater on the downside.”

BTMU: “The euro may remain on a slightly weaker footing heading into next week’s ECB meeting especially if euro zone inflation disappoints in February”.

Chart. H4 EUR/USD

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