EURUSD Drops to New Low for the Year

The EUR/USD fell to a new low for 2021 on Tuesday, pushing below the prior year to date low of 1.1529, which was made on Wednesday last week. 

Price fell to 1.1524 earlier in the session before retracing to where it is now trading at 1.1531, meaning it is down 5.6% since the start of January. 

The pair has continued to decline since reaching highs of 1.1909 at the beginning of September. The move has come despite a mixed day for the US Dollar Index against other major currencies.

The Aussie dollar, which has seen a pullback in recent weeks, gained another 0.15% against the USD earlier today, and the GBP/USD is flat for the day, despite attempts to break out in both directions. However, the USD/JPY and USD/CHF have rallied higher.

Should the EURUSD continue to fall, a level to watch would be 1.1495. However, price has already pulled back above last week’s lows after today’s down move.

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