You would think some negative Eurozone headline would have been the catalyst for EUR/USD finally closing below 1.35 but it was simply the weight of the market that pulled it through. On the day, the Australian dollar led the way while the Swiss franc led. The focus will remain on the Aussie with CPI due later. We have a new set of Premium Insights ahead tonight's Aussie CPI & tomorrow's RBNZ rate decision. Less than 2 months after our AUDNZD longs hit their final targets, we issue a new ideas and trades on AUDNZD & NZDUSD.
It's been a grinding battle for euro bears since the ECB cut rates and introduced TLTROS but they can finally claim a small victory as the solid zone of support around 1.35 and the Feb low of 1.3477 finally gave way. Selling continued down to 1.3459 and the euro closed on the lows.