EUR/USD sags to the finish line
Barring a last minute jump, the euro will finish the day near the lows and at the worst level since March 16.
Perhaps more importantly, it will close below the 61.8% retracement of the March-April rally. That puts the entire move in jeopardy and points to a return to 1.08.
Given the hawkish comments from Yellen, I expect the weakness in the pair to continue into next week and beyond.
But first the pair will need to clear the 200-day moving average, which is at 1.1101 today. That will be a tough one to break and I wouldn't trust a breakout on Monday with the US off for a holiday.
