- EUR / USD remains offered and is trading at multi-day lows.
- Lower down is the 100-day SMA near 1.2040.
EUR / USD accelerated the weekly downward leg after failing to retake the 1.2100 zone earlier on Thursday.
If the selling momentum accelerates further, then the pair could attempt to revisit the 1.2040 zone, where the 100-day SMA is located. However, there is a minor containment area around 1.2060, where the 20-day SMA and a Fibonacci level (from the November-January rally) coincide.
The constructive stance on EUR / USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1950.
EUR / USD day chart
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