EUR/USD: Euro slips below 1.11220 and attempts to hold at 1.1095

The Euro held on above 1.11220 for 24 hours but failed twice to reach 1.11645 and fell to 1.10955 during the overnight session as estimated in my previous post.

Euro now trades at 1.11040 at the time of writing and needs to remain above 1.10955 to head back up to 1.11220. A break above 1.1120 could see the pair continue up to retest 1.11530. The current short to medium term direction currently points towards the south and could see the Euro continue down to 1.10800 and 1.10540 if it fails to hold at 1.10955