- EUR / USD falls further and hits new lows near 1.1850.
- The 200-day SMA awaits at the 1.18 zone.
The EUR/USD further loses control and extends bearish momentum below 1.19.
The current downtrend gained additional strength and threatens to challenge the critical 200-day SMA, today at 1.1808. A move below the latter should shift the short-term outlook to bearish and expose further losses.
If the selling momentum gathers strength, then the pair could test the 2008-2020 support line at the 1.1600 area.
Daily chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
