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EUR/USD eases through 1.4100

EUR/USD has probed below the 1.4100 level. If there were a barrier, it’s been triggered. The near-term downside target is 1.4045. Trailing stops are eyed in the 1.4140 are while offers are seen in the 1.4155/65 zone. More stops are seen around 1.4170. Large sell orders lie in the 1.4200/20 area if a rebound unfolds.

Widening Greek yield spreads, Chinese jitters, profit-taking in emerging markets and commodities are all contributing to dollar strength with a dollop of US electoral politics thrown in, to boot.

EUR/USD has not traded this low since August. Technically, much damage has been done on the charts in the last 24 hours. The 200-0day moving average at 1.4290 has been shattered and the 38.2% retracement of the months-long 1.2464/1.5144 rally broke earlier today at 1.4130.

Disclosure: "no positions"