The Euro extends steep fall, sparked by strong risk aversion on growing recession worries and boosted by a break of critical technical supports that signaled a continuation of larger downtrend from 2008 peak (1.6039).
Fresh weakness pushed the price to new lowest levels since 2002, with increasingly negative fundamentals offsetting signals from oversold daily studies, though price adjustment can be expected in coming sessions, mainly to offer better selling opportunities for final push towards targets at 1.0069/1.0000 (Fibo 76.4% of 0.8225/1.6039 / psychological support).
Res: 1.0235; 1.0276; 1.0298; 1.0340.
Sup: 1.0166; 1.0100; 1.0069; 1.0100.
