Home EUR/USD Technical Analysis: Extra losses in the pipeline while below 1.1400
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EUR/USD Technical Analysis: Extra losses in the pipeline while below 1.1400

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  • EUR/USD remains weak in spite of today’s attempts to gather some upside traction.
  • Against this backdrop, and after breaching key support levels at 1.1234 (low February 15) and 1.1215 (2018 low November 12), the pair is still expected to visit 2019 lows in the 1.1180 region in the near term. The negative outlook should persist while below the 5-month resistance line, today at 1.1400.
  • Occasional bullish attempts are expected to meet initial hurdle at the 1.1298/1.1304 band, where are located the 21-day and 10-day SMAs ahead of the more relevant 200-week SMA at 1.1337.

EUR/USD daily chart

 

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