On Friday, due to a combination of fundamental events and technical level pressure the EUR/USD plummeted down like a brick thrown into a pool. Namely, by the middle of the day’s trading the pair was trading below 1.1300.
In regards to the near future, the pair faces no technical support as low as the 1.1260 level, where the medium pattern’s trend line is located at. In addition, note that the continuation of Brexit turmoil is set to beat the Euro down.
Meanwhile, after a sharp drop currency exchange rates retrace back upwards or trade sideways consolidating at a certain level.
