Home EUR/USD Price Analysis: Next support now aligns in the mid-1.1900s
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EUR/USD Price Analysis: Next support now aligns in the mid-1.1900s

FX Street
Updated:
  • EUR/USD records new 2021 lows near 1.1980 on Thursday.
  • The 100-day SMA comes up next near 1.1950.

EUR/USD loses the grip further and finally breaches the 1.20 support, recording at the same time new yearly lows in the 1.1985/80 band.

The bearish view on EUR/USD remains well and sound in the near-term. The next interim support comes in at 1.1976, where is located a Fibo level of the November-January rally) ahead of the 100-day SMA, today at 1.1956. The latter is expected to hold the downside… initially.

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1683.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

 

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