- EUR/USD fades the earlier uptick to 1.1850/55.
- Another visit to the 1.1800 level and above is likely.
EUR/USD now struggles for direction and gives away the earlier move to daily highs in the mid-1.1800s on Friday.
Below the latter there is a minor support at the 20-day SMA, today at 1.1787. The loss of this area should open the door to a deeper retracement to 2021 lows near 1.1660 (August 20). While below the short-term resistance line (off he June’s high) the outlook should point to extra losses.
In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1997.
EUR/USD daily chart
