- EUR / USD hits new 2021 lows just above 1.20.
- A violation of 1.20 should expose the Fibonacci level near 1.1970.
- EUR / USD continues to decline and is approaching 1.20 on Wednesday.
A new fall of the EUR/USD it remains well anticipated in the short term. If the pair breaks through 1.20, then the next interim support will come around 1.1970, where a Fibonacci level from the November-January rally is located).
In the bigger picture, the constructive stance in EUR / USD remains unchanged while it is above the critical 200-day SMA, today at 1.1677.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
Daily chart
Technical Levels
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