EURUSD tanks toward 1.0300 as Russian missiles hit Poland
- Two Russian missiles hit the city of Przewodow, killing two Polish.
- The Polish Prime Minister called an urgent meeting, according to Reuters.
- EURUSD plunged after hitting a daily high at 1.0481, approaching 1.0270s.
The EURUSD is plunging in the North American session on confirmation that two Russian missiles landed on Poland, killing two poles, near the Polish city of Hrubieszow on the border with Ukraine. Therefore, the EURUSD is plummeting from around 1.0388 to 1.0303 at the time of writing.
Reports confirmed by the AP said that a senior US intelligence official said Russian missiles crossed into NATO member Poland, killing two people.
In the meantime, Polish Prime Minister Mateusz Morawiecki called an urgent meeting of a government committee for national security and defense affairs, according to a government spokesman, as reported by Reuters.
Market’s Reaction
The EURUSD dived from around 1.0380s, extended its losses beneath the daily pivot point, and edged towards the S1 pivot level at around 1.0280. Meanwhile, US equities are pairing earlier gains, while the US Dollar Index is rising more than 0.19% at around 107.080 after hitting a daily low at 105.340.
EURUSD Price Analysis: Technical outlook
Therefore, the EURUSD is neutral-to-upward biased and briefly pierced the 200-day EMA at 1.0427 but retreated at around the London Fix, diving below 1.0360. if the EURUSD does not achieve a daily close above the November 11 high of 1.0364, it will exacerbate a fall beneath the 1.0300 figure. The EURUSD’s next support would be the 1.0200 figure, followed by the 100-day EMA at 1.0026.
Author
Christian Borjon Valencia
FXStreet
Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.
