- EUR / USD extends the slide and is approaching the 1.19 level.
- There is minor support at 1.1887 (Fibonacci level).
EUR / USD accelerates the decline following the recent breakout of the 1.2000 psychological level at the end of the week.
The current downtrend has accelerated further in the past few hours and has forced the EUR / USD back to close to the 1.19 level. Momentum favors further pullbacks with the next downside target at the Fibonacci level from the November to January move at 1.1887.
A breakout of this level should expose a possible move to the key 200-day SMA, today at 1.1808, being challenged by the bullish bias.
If the selling momentum gains more strength, then the pair could test the 2008-2020 support line at the 1.1600 area.
EUR / USD daily chart
EUR / USD technical levels
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