EUR/USD is clinging to support at 1.1120, but only just. This is one leg lower from the previous support line of 1.1160 and almost 150 lows from the cycle of 1.1266.
1.1120 worked as support back in October 2016 and returns to its old role. Further support awaits at 1.1050, followed by 1.0950, which was the initial post-French elections high.
The President of the ECB initially provided optimistic words. He saw the glass half-full by saying that downside risks have diminished and said that growth .........