Heading into Tuesday’s London session the Euro was heavily on the back foot as EUR/USD now trading at 1.0305. As highlighted in recent articles, the Euro is zoning in on parity with the USD and it becomes more realistic every passing day.
The Pound also is getting hit this morning and is trading at 1.2040. A re-test of 1.2000 to the downside looks likely and a breakthrough could come through in upcoming trading sessions.
Overnight the Reserve Bank of Australia met and decided to leave interest rates unchanged at 1.35%. The Aussie slumped as a result and is now overing in the .6790 region. A further move down to test .6500 in the medium term looks likely.
Bitcoin has failed in it’s most recent test of $20,000 to the upside and this could be the one that trips the next steep move downwards. The next key support comes in at $17,500 which looks to be tested near term.