Dollar strength picking up sends the euro down to

EURUSD has dropped under the 200 dma at 1.1052. It's also gone through the 55 wma and 38.2 fib of the Dec swing sitting at 1.1040.

EURUSD daily chart

The decisive move looks to be the break of 1.1060/70 level. Expect that to be the first break resistance point. Look now for the 200 dma to become resistance. If we take the 55 wma as well then we could see an accelerated move lower. If you're short you want to see these two levels taken out and the break confirmed. Shorts wanting to enter have these levels to lean against but will need to keep it tight until they get that confirmation.

The 55 and 100 dma's look an enticing profit target for shorts, and possible entry for longs.