EUR/USD Price Analysis: Scope for extra losses
|- EUR/USD remains under pressure around 1.1800.
- There is an interim support around 1.1760 (Fibo level).
EUR/USD accelerates the downside following the rejection from the mid-1.1800s on Thursday.
While the upside remains capped by the 1.1880 area, further pullbacks remain in the pipeline.
Against this, the breach of the 2020-2021 support line would be an important bearish event and carries the potential to accelerate losses to, initially, the Fibo level near 1.1760 ahead of the 2021 low in the 1.1700 neighbourhood (March 31).
Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.
EUR/USD daily chart
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