• Two Russian missiles hit the city of Przewodow, killing two Poles.
• The Polish Prime Minister called an urgent meeting, according to Reuters.
• EURUSD plunged after hitting a daily high of 1.0481, closing in on 1.0270.

The EURUSD collapsed in the North American session when it was confirmed that two Russian missiles fell on Poland, killing two Poles, near the Polish city of Hrubieszow, on the border with Ukraine. Therefore, the EURUSD is slumping from around 1.0388 to 1.0303 at the time of writing.

Reports confirmed by the AP agency say a senior US intelligence official said Russian missiles crossed into NATO member Poland, killing two people.

Meanwhile, Polish Prime Minister Mateusz Morawiecki has called an urgent meeting of a government committee for national security and defense issues, according to a government spokesman, as reported by Reuters.

Market Reaction

EURUSD fell from around 1.0380, extended losses below the daily pivot point and approached the S1 pivot level around 1.0280. Meanwhile, US stocks are paring earlier gains, while the Dollar Index is up more than 0.19% around 107,080 after hitting a daily low of 105,340.

EURUSD Price Analysis: Technical Perspective

Therefore, EURUSD has a neutral to upside bias and briefly pierced the 200 day EMA at 1.0427, but pulled back around the close of the London session, dipping below 1.0360. If EURUSD fails to make a daily close above the Nov 11 high at 1.0364, a fall below 1.0300 will worsen. Next support for EURUSD would be 1.0200, followed by the 100-day EMA at 1.0026.