- EUR / USD remains under pressure and tests levels below 1.1900.
- A deeper pullback points to the 1.1830 region in the near term.
EUR / USD was rejected once again from levels around 1.20 earlier in the week, returning below 1.1900 today.
The inability of the euro to sustain left the door open for an extension of the supply bias in the pair and favors a possible movement towards the 2021 lows in the 1.1835 / 30 band (March 9). This zone of lows is reinforced by the proximity to the key 200-day SMA, today at 1.1843.
Below the latter, potential losses are expected to pick up further with the next target at a Fibonacci level at 1.1762 ahead of the 2008-2020 support line at the 1.1600 / 1.1590 band. However, at the moment a fall to this last level is not contemplated at the moment.
EUR / USD day chart
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