- EUR / USD breaks the 1.22 support and is trading at three-week lows.
- More losses could extend to the 1.2130 / 25 band.
EUR / USD further loses control at the beginning of the week and falls to three-week lows near 1.2150.
Against this, the downward corrective side in EUR / USD could have more tranches to go and a move to the weekly low at 1.2129 (Dec 21) should not be ruled out on the very short term horizon.
In the meantime, additional gains are likely on the EUR / USD as long as it remains above the 200-day SMA, today at 1.1570.
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.
EUR / USD day chart
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