- EUR / USD falls further and hits a new yearly low at 1.1568.
- The 1.1500 zone should limit the decline.
The fall of EUR/USD accelerates further and breaks below 1.1600 support to close new 2021 lows around 1.1570.
A technical rally could be in the works in the very near term considering the current oversold condition of the pair on a daily basis. However, the broader outlook points to the south and a close below the 200-week SMA at 1.1572 should allow for a further decline at the 1.1500 zone, where the March 2020 high is located.
Meanwhile, the short-term outlook for the EUR / USD looks on the downside, while below the key 200-day SMA, today at 1.1966.
Daily EUR / USD chart
Technical levels
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