There’s no fresh catalyst in terms of headlines as the pair is just being driven lower on the session. But one can argue that it comes amid a break of key trendline support for the year as outlined here. The pair had previously held at the key level (white line) as seen in the chart above. But with the break here, it looks like dip buyers may be losing some of their appetite.
This article was written by Justin Low at www.forexlive.com.
