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19 Jun 2020

EUR/USD Price Analysis: Risks further decline below 1.1186

  • The offered bias remains well and sound around EUR/USD.
  • A breach of 1.1186 should open the door to extra downside.

EUR/USD extends the consolidation theme in the lower end of the weekly range near the 1.1200 mark.

The pair briefly tested the 1.1185/80 band on Thursday, just to bounce afterwards. In this area of contention coincide a Fibo level (of the 20017-2018 drop).

If this area is breached on a sustainable fashion, a probable move to the critical 200-day SMA at 1.1026 should return to the radar.

EUR/USD daily chart

 

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