- EUR / USD remains under pressure near the 1.1700 zone.
- A move below 1.1700 could trigger further short-term losses.
The environment around EUR/USD it remains fragile around key support at the 1.1700 area on Wednesday.
The downward pressure is expected to ease a bit upon a close above the 1.1800 area, ideally in the very short term. That said, the recovery could point to the July peaks in the area just above 1.1900, where resistance is expected.
If the 1.1800 area is not retested / exceeded, the current year’s lows around 1.1700 will be exposed and the door would open for an extra decline below, with the next target being around 1.1600.
Meanwhile, the short-term outlook for the EUR / USD looks on the downside, as long as it remains below the 200-day SMA, today at 1.2004.
EUR / USD day chart
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