EUR/USD drops below 1.0600, down over 1% on the day | Forexlive

The pair was trading around 1.0730 earlier in the day but has seen a dramatic turn as soon as European markets opened. The worries involving Credit Suisse and European banks are seeing sellers take over, with price tumbling to 1.0595 at the moment.

From a technical perspective, the pair is looking towards its 100-day moving average (red line) once again currently. The level helped to arrest the decline last week and is now seen at 1.0554. So, just be mindful of that alongside further support closer to the 1.0500 mark.