EURUSD has just printed a fresh 5-month low, with a continuation of the bearish price action from yesterday when there was a high momentum move through recent 1.2970 area support. Euro/dollar has covered 68% of the ADR and is currently trading at -0.60% on the daily basis. Price moved as high as 1.2980 intra-day, a floor trader pivot level and just above previous 1.2970 area support, prior to the drop lower. We will be monitoring the price action around 1.2880 if price moves this low. This area has the prior D1 pivot level aligned with a 50% and 78.6% Fibonacci retrace level. (full story)