- EUR / USD continues to move well below the 1.18 level on Monday.
- The 200-day SMA, near 1.1860, now appears as the next hurdle to the upside.
The EUR / USD move lower appears to have found decent support at the 1.1760 region so far, where a Fibonacci level is located from the November to January move.
The recent breakout of the 200-day SMA at 1.1859 allows sellers to maintain control of sentiment around the common currency, while exposing further losses on the short-term horizon.
Below recent annual lows around 1.1760, there are no relevant support levels until the November 2020 lows in the 1.1600 zone.
As long as EUR / USD remains below the 200-day SMA, the short-term stance is expected to remain negative.
EUR / USD daily chart
EUR / USD technical levels
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