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EUR/USD Technical Analysis: Potential consolidation likely ahead of further losses

FX Street

Updated: 26 Apr. 2019 | 10:03

EUR/USD dropped to fresh 2019 lows in the 1.1120/18 band on Thursday, coincident with the lowest level recorded during June 2017.
There are no relevant support levels until de 1.0540 region (May 2017 lows), which emerges as the next target in case the selling impulse gathers extra pace.
Looking at the broader picture, the offered bias around the pair stays unchanged as long as the multi-month resistance line, today at 1.1336, caps the upside. Spot needs to overcome this hurdle in order to alleviate the downside pressure.

EUR/USD daily chart

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