EUR/USD Price Analysis: Further weakness lies below 1.1900
|- EUR/USD plummets well south of the 1.20 mark.
- The Fibo level around 1.1887 comes up next on the way down.
EUR/USD rapidly loses momentum and extends the drop to multi-week lows in the 1.1930/25 band on Thursday.
The loss of the 200-day SMA (1.1991) does not bode well for spot and allows for a deeper pullback to, initially, the Fibo level (of the November-January rally) at 1.1887. If the selling impulse picks up pace, then the next support emerges at 1.1835 (March 9 low).
On the broader view, further decline in EUR/USD is predicted while below the 200-day SMA, today at 1.1991.
EUR/USD daily chart
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