The euro plummeted to a four day low of 1.3264 against the dollar after Eurogroup President Jean-Claude Juncker said the euro exchange rate was "dangerously high" to Bloomberg News.
The euro fall was very rapid, taking barely five minutes to drop from 1.3338 at 1:52pm ET to 1.3264 at 1:57 pm. Stop loss executions below 1.3300 pushed the pair to the bottom, followed by a 20 point rebound.
The Eurogroup is the meeting organization of EU finance ministers. Jean-Claude Juncker is the Prime Minister of Luxembourg.
Support at 1.3250, 1.3175 and 1.3100. Resistance is at 1.3400 and 1.3474. Moving averages: 14 day 1.3193, 55 day 1.3020, 200 day 1.2784.
Chief Market Strategist