EUR/USD falls past its 200-day moving average at 1.1681, driven by broad risk-off sentiment and dollar strength.
EUR/USD extended losses below its 200-day moving average at 1.1681, breaking a weeks-long range between 1.1681 and 1.1800. The move follows a sharp risk-off shift in global markets, boosting demand for the USD as a safe haven.
The pair had traded within the 1.1681-1.1800 band since mid-April, but the breach of support signals potential for further downside. FX option expiries at 1.1675 hold little technical significance, with broader sentiment and US-Iran headlines dominating price action.
The dollar’s strength, fueled by flight-to-safety flows, remains the primary driver as markets close the week.