- EUR / USD remains under pressure below 1.1800.
- Further pullbacks could lead to a new test at 1.1700 in the near term.
EUR / USD prolongs Monday’s lows and keeps the sell bias unchanged below 1.1800.
The 1.1800 zone is now emerging as an immediate target to the upside. Should it be broken, then the recovery could point to the July peaks in the area just above 1.1900, where resistance is expected.
Failure to retest / break above the 1.1800 area, ideally in the very short term, could encourage sellers to step in and drag the pair once again to this year’s lows near 1.1700.
Meanwhile, the short-term outlook for EUR / USD looks on the downside, as long as it remains below the 200-day SMA, today at 1.2005.
EUR / USD day chart
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