- The EUR / USD rejection from 1.2240 met with containment near 1.2030.
- A drop and hit at 1.2000 now appears on the cards.
The EUR/USD extends the downward correction from last week’s highs well above the 1.2200 neighborhood.
The 1.2030 / 20 band, where the recent lows coincide, the 100-day SMA and the 4-month support line (off the November low) reinforce this key area of ​​containment. A breakout of this region could expose psychological support at 1.2000.
In the bigger picture, the constructive stance of the EUR / USD remains unchanged while it is above the critical 200-day SMA, today at 1.1787.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
Daily chart 
Technical levels
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