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EUR: Key Support Breaks - EUR/USD Lowest Since '22

EUR
USCEEMEABulletMarketsForeign Exchange BulletsNorth America
  • A further spell of weakness has pressured EUR/USD through key support of 1.0448 - this level is significant as it marks the Sep 3 2023 low and the level off which markets found support and staged a M/T recovery.
  • The break here puts prices at the lowest since '22 and will again re-raise speculation that EUR/USD could revisit parity in the coming months - the options-implied likelihood of touching 1.00 before year-end has spiked - now 9.7%, up from 0.4% in the session before the US election.
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  • A further spell of weakness has pressured EUR/USD through key support of 1.0448 - this level is significant as it marks the Sep 3 2023 low and the level off which markets found support and staged a M/T recovery.
  • The break here puts prices at the lowest since '22 and will again re-raise speculation that EUR/USD could revisit parity in the coming months - the options-implied likelihood of touching 1.00 before year-end has spiked - now 9.7%, up from 0.4% in the session before the US election.