Looking to the EUR/USD chart above, the sinking towards parity remains very much on the cards with the technicals also lining up. With political uncertainty also set to cast a large shadow over Europe in the first half of the year, it might be tough to feel optimistic about the euro or euro-related assets at this point.
It's tough to pick at support levels for EUR/USD at the moment and that is the danger for the pair as any further drop could well be exacerbated by the lack of supportive elements.
A hotter dollar continues to make a case for a downside move in the pair, especially with the selloff in the bond market in December. That's certainly a spot to be mindful about even if there might be a short-term retracement in January. 10-year yields in the US are down 4 bps to 4.536% today while 10-year yields in the UK are down 1.5 bps to 4.558% currently.
This article was written by Justin Low at www.forexlive.com. Read More Details
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