The euro is picking up from where it left off on Friday
We had a down day Friday and it's not looking any better today. 1.1200 hasn't been the strongest of levels but we saw some support ahead at 1.1210 overnight. It broke earlier and the move was indecisive for a couple of hours, then 1.1210 became resistance and helped decide the direction.
EURUSD H1 chart
We're finding support around the current level of 1.1180 and there's stronger support at 1.1160 ahead of the 50.0 fib of the Feb move at 1.1140.
With European stocks holding their gains the euro is losing some of it's shine in the risk/funding currency play. With the US off and liquidity down there's a chance that we see further downside pressure but it may struggle against some of the bigger levels. and thus opportunities will arise.
