EURUSD gave back overnight gains and is making a strong downward move as the US dollar makes a comeback against most major currencies. The main currency pair broke below mid-February low near 1.2050 and the lower limit of the upward channel. The nearest major support to watch can be found in the 1.1950 area, where one can find low from the beginning of February, low limit of the Overbalance structure as well as previous price reactions. Key release for the pair in today's calendar is US ISM manufacturing at 3:00 pm GMT. Apart from that, a lot of central bankers from Fed and ECB will deliver speeches.
Source: xStation5
