Is Euro Heading Toward Parity against Dollar after the Italian Referendum?

Euro continued to slide after the Italian referendum.

EUR/USD opened with a huge bearish gap as exit polls showed the ‘No’ vote in the Italian referrendum heavily in the lead.

The “No” votes are winning in most regions.  

Based purely on the chart, if this is a definite break below the 1.05 level, it’s difficult to imagine where the next level of the support will be for the euro.  The chart does not look good for the bulls at all.

Leave a comment

Your email address will not be published. Required fields are marked *