In terms of technical levels, it doesn’t get any bigger than this: Euro threatens 1.0350

The low in Could was 1.0350 and the low in January 2017 was 1.0340.

Each of these important ranges are below heavy stress in the intervening time as a broad US greenback bid emerges. A breakdown can be the bottom within the euro since 2003.

At present’s PMIs emphasize the rising danger of a recession within the eurozone. The greenback is broadly bid at this time however the euro is especially smooth as German 10-year yields fall 7 bps.

When it comes to technical ranges, it does not get any larger than this.

The low thus far is 1.0352 in a fast fall from 1.0432 simply over an hour in the past.