Drop below 1.1800 wouldn’t be surprising

Get real time updates directly on you device, subscribe now.

  • EUR / USD accelerates losses towards the 1.1815 / 10 band on Wednesday.
  • An initial containment appeared near 1.1810, where the 55-day average is.

The EUR/USD it remains well on the defensive and is approaching key support in the 1.1800 region on Wednesday. The price plunged nearly a penny, having traded above 1.1900 on Friday following the US employment report.

Immediate support appears at the 1.1815 / 10 band, Wednesday’s lows and where the 55-day SMA is located.

Losing this area could pave the way for a move to the provisional barrier at 1.1781 (20-day SMA). Further south there are no relevant support levels until the 2021 lows near 1.1660 (Aug 20 low).

Meanwhile, the short-term outlook for EUR / USD looks on the downside, as long as it is below the key 200-day SMA, today at 1.1999.

EUR / USD day chart

.
Source Link

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.