EUR/USD Drops Below 1.14 – Further Lows in Sight?

The U.S. dollar strengthened Monday on speculation the Federal Reserve may have to speed up policy tightening to fight price pressures. The euro fell victim to the greenback’s strength and broke below 1.14. The focus will now be on U.S. retail sales scheduled for release today at 13:30 UTC.

EUR/USD- technical picture

The pair fell toward a low at 1.1350 and traders wonder whether lower targets at 1.12 could be in sight. If the euro is unable to stabilize above 1.1420 we might see another leg down but this will primarily hinge on the demand for USD.

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