- EUR / USD remains under pressure around the 1.1900 zone.
- A deeper pullback would target the 1.1830 region in the near term.
EUR / USD remains on the defensive, circling around the 1.1900 zone as markets await the key meeting from the Federal Reserve. The statement will be known in the second half of the American session.
So far, the 1.20 region continues to hold back occasional bullish attempts, leaving the door open for an extension of the bias on offer and a potential move towards the 2021 lows in the 1.1835 / 30 band (March 9 low). This zone of lows is reinforced by the proximity to the key 200-day SMA, today at 1.1834.
Below the latter, potential losses are expected to pick up further with the next target at a Fibonacci level at 1.1762 ahead of the 2008-2020 support line at the 1.1600 / 1.1590 band. However, at the moment a fall towards this level is not contemplated.
EUR / USD day chart
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