Further EUR/USD weakness – UBS on the downside levels to watch as triggers | Forexlive

Cutting to the chase, UBS say the next technical levels below to watch for breaking are:

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This time last week EUR/USD had gapped down to open the new week on the political news out of France. As wrapped up here:

While the (politics) gap did get filled in later in the week we are lower now, sitting just above 1.0700 in (very) early Asia time.

UBS on the EUR:

• lower, driven by European politics and market risk sentiment
• most of the action is in EUR crosses not in EURUSD … EURCHF and EURJPY downside as is normal in a risk off environment