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Next support emerges at 1.1185

  • EUR / USD recorded new lows near 1.1260 on Wednesday.
  • A deeper move could see 1.1185 retest itself anytime soon.

Sellers keep good control of the EUR/USD and dragged it to the zone of new 16-month lows near 1.1260 earlier on Wednesday.

The continuation of the downward trend seems favored in the short-term horizon. That said, a break from the yearly low at 1.1263 (Nov 17) should point to a deeper drop to the July 2020 low at 1.1185 before 1.1168 (Jun 19, 2020 low).

Meanwhile, additional losses remain on the charts as long as the pair trades below the immediate resistance line (far from the September high) today near 1.1610. Longer term, the negative outlook persists as long as it is below the 200-day SMA, today at 1.1865.

Daily EUR / USD chart

Technical levels

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