The euro fell as the bloc’s bond yields tumbled in fear of a financial crisis. From the daily chart’s perspective, the pair is still inching up despite a choppy path. On the hourly chart, a break below 0.8825 continues to put intraday bulls on the defensive. The demand zone around 0.8790 at the origin of the March breakout rally is a major level to keep the directional bias up. Otherwise, a fall below the daily support of 0.8760 may cause a bearish reversal. 0.8850 is the first hurdle and only a close above 0.8890 would turn sentiment around.
