EUR/USD Price Analysis: Interim support comes in at 1.1887

  • EUR/USD extends the downtrend and challenges 1.1900.
  • There is a minor support at a Fibo level at 1.1887.

EUR/USD started the week on the defensive and puts the key support at 1.1900 the figure under extra pressure on Tuesday.

If the sellers regain control of the market, then there is an interim support at the Fibo level (of the November-January rally) at 1.1887. Further south aligns the Fed-induced monthly low at 1.1847 (June.18).

The near-term outlook for EUR/USD is forecast to remain on the negative side while below the key 200-day SMA, today at 1.1994.

EUR/USD daily chart

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