The next support now emerges at the 1.1950 zone

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  • EUR / USD hits new 2021 lows near 1.1980 on Thursday.
  • The 100-day SMA then appears near 1.1950.

EUR / USD extended the pullback and lost the 1.20 support, at the same time recording new yearly lows in the 1.1985 / 80 band.

The bearish view on EUR / USD remains good and strong in the short term. The next intermediate support is located at 1.1976, where it is a Fibonacci level from the November-January rally, ahead of the 100-day SMA, today at 1.1956. The latter is expected, in principle, to maintain the decline.

In the bigger picture, the constructive stance of the EUR / USD will remain unchanged while it is above the critical 200-day SMA, today at 1.1683.

Looking at the monthly chart, the solid break of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.

EUR / USD day chart

EUR/USD

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