EUR/USD Price Analysis: A drop to 1.1780 stays on the cards
|- EUR/USD fades part of the recent rebound on Monday.
- The 1.1780 area remains a magnet for EUR-sellers.
EUR/USD’s bull run seems to have lost momentum near 1.1880 once again on Monday.
While the upside remains capped by this area, further pullbacks are likely. Against this, the next stop on the downside comes in at the so far monthly lows around 1.1780 (July 7). This area of contention is reinforced by the 2020-2021 support line.
Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2001.
EUR/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.