EUR/USD Price Analysis: Interim support comes in at 1.1887

EUR/USD extends the downtrend and challenges 1.1900.
There is a minor support at a Fibo level at 1.1887.

Pablo Piovano FXStreet

EUR/USD started the week on the defensive and puts the key support at 1.1900 the figure under extra pressure on Tuesday.

If the sellers regain control of the market, then there is an interim support at the Fibo level (of the November-January rally) at 1.1887. Further south aligns the Fed-induced monthly low at 1.1847 (June.18).

The near-term outlook for EUR/USD is forecast to remain on the negative side while below the key 200-day SMA, today at 1.1994.

EUR/USD daily chart

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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