EUR/USD Update – 08/12/2017 (9:50am) – by Arjun Lakhanpal

EUR/USD Update – 08/12/2017 (9:50am): EUR/USD is easing slowly lower from the 78.6% retracement at 1.1976, it is on the defensive and weighing on the 55 day ma at 1.1761. A close below the 55 day ma and preferably below 1.1712 the recent low is needed to alleviate immediate upside pressure. Below 1.1712 the 21st November low should negate upside pressure and allow for slippage back to the 1.1553 7th November low.