- EUR / USD bearish momentum extends and tests below 1.1850.
- Further declines to test the 5-day SMA at 1.1813 looks possible.
The EUR / USD retracement remains well in place so far this week. The losses after the post NFP jump to 1.19, has support in tonro at 1.1850 / 60, which is being put to the test.
Despite the current pullback, the very short-term outlook for the pair remains positive and points to further gains from a daily close above the latest highs near 1.1910.
Against this, there is an intermediate obstacle in the 100-day moving average, today at 1.1948, while the 55-day average, at 1.1813, continues to be the bearish scenario for the euro.
Meanwhile, the short-term outlook for the EUR/USD they look on the downside, as long as it remains below the key 200 SMA, today at 1.2000.
EUR / USD day chart
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