- EUR / USD is still unable to regain bullish traction on Wednesday.
- A further drop is seen revisiting the 1.1700 region in the near term.
EUR / USD continues to lose momentum and extends downward movement after being rejected from levels above 1.19 on Monday.
In case the bears continue to press, then the pair could extend the pullback and revisit the key support zone around 1.1700, where a Fibonacci level and the 100-day SMA converge.
Looking at the bigger picture, additional gains are likely on the EUR / USD as long as it remains above the 200-day SMA, today at 1.1343.
EUR / USD daily chart
Credits: Forex Street
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