- EUR / USD extends Wednesday’s tone of weakness below 1.2200.
- The next notable support emerges around 1.2130.
EUR / USD is down again, visiting the 1.2180 / 75 band again on Thursday.
A continuation of the downtrend seems likely as long as it is below the short-term resistance line (from March lows) near 1.2220 and does not face any relevant support until last week’s lows at the 1.2130 zone ( May 28 minimum).
In a broader view, the constructive stance of the EUR / USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1978.
The ongoing correction follows the recent bearish divergence in the RSI for the day as it failed to confirm the recent spikes near 1.2270.
EUR / USD day chart
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