We still see EURUSD moving lower despite the FED indicating that QE may be re-introduced in the form of expanding the balance sheet due to the continued weakness of the Eurozone economy. Today EUR PMI was weaker across the board in particular German Composite PMI came in at 41.9 vs 51.5 forecast. We therefore maintain our short view and see the currency pair moving below the yearly low at around 1.092 but would not want to see EURUSD move back above the 1.102 resistance level.