Home EUR/USD Price Analysis: Decent support is seen at 1.1200

EUR/USD Price Analysis: Decent support is seen at 1.1200

Published date: 18 Jun. 2020 | 11:37

EUR/USD keeps the consolidation well and sound above 1.12 so far.
A breach of 1.12 should expose the Fibo level at 1.1186.

EUR/USD extends the consolidation theme just above the 1.12 level so far in the second half of the week.

If the selling pressure gathers extra traction and 1.1200 is cleared, then the focus should shift to the Fibo retracement (of the 2017-2018 rally) at 1.1186.

On the broader picture, the outlook on the pair is seen as constructive as long as the 200-day SMA, today at 1.1026, holds the downside.

EUR/USD daily chart

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