EUR/USD Hits One-Month Low as Euro Continues to Slide

The EUR/USD pair fell to 1.1536 on Tuesday, extending its losing streak to four straight days and marking the euro's lowest level in over a month.

The pair has declined since the European Central Bank raised rates last Thursday, with every euro-positive event being cancelled out by dollar-positive headlines.

According to technical analysis, a clean break below 1.1533 could deepen the euro's slide, opening up the possibility of a move towards 1.1430.

The 50% Fibonacci retracement level sits at 1.1533, and the pair is currently trading just above it, with every major driver pointing towards a dollar-positive outcome.