- The EUR has lost more ground against all of the other majors;
- EUR/JPY is sitting right on important technical support levels at 140.20/40;
- EUR/AUD has created a topping formation now and should hold below 1.50;
- EUR/GBP has had a sharp reversal of the previous short-term bull trend and now even EUR/CAD is starting to reverse quite sharply;
- Initial EUR/USD support levels start at 1.3710/20.
Short-term momentum is bearish for EUR/USD and I expect to see a test of 1.3640/60 support levels, which are crucial in my view. The medium-term outlook will depend on what happens there.