Euro trending lower, short & long term: Auerbach Grayson

It has been a disappointing day of news from across Europe. The crucial euro level has also been crossed.

In the global markets, a collision of the technicals and fundamentals is highly observed, said Richard Ross, global technical analyst at Auerbach Grayson. "The breakdown in euro is technical, which was driven by the fundamentals factors," he pointed out.
Talking about the euro, Ross indicated that the breakdown below 1.32 levels should set the stage for the test of 1.29 in the short-term, but the trend remains down in the short-term and longer term. Here is the edited transcript of his interview to CNBC-Tv18. Also watch the accompanying video. Q: What did you make of the disappointment across Europe?
A: It has been disappointing, especially if you are long these markets, we are seeing a collision of the technicals and fundamentals. The breakdown in the euro is technical in nature, which was driven by the fundamentals factors. It