The EUR / USD slide broke the key support at 1.20.
A deeper pullback could hit the 2021 low at 1.1952.
EUR / USD fell further and recorded fresh 4-week lows in the 1.1990 region on Tuesday.
Although the ongoing weakness is considered temporary, it could extend further and attempt to revisit the yearly lows at 1.1950 recorded in early February. Below this area, the selling pressure could start to accelerate, exposing the next target at the Fibonacci level at 1.1887.
In the bigger picture, the constructive stance of the EUR / USD remains unchanged while it is above the critical 200-day SMA, today at 1.1793.
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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