EUR/USD PRICE ANALYSIS: ANOTHER VISIT TO 1.1800 REMAINS ON THE CARDS

  • EUR/USD remains under pressure well below 1.1900.
  • Bets rise for another move to the 1.1800 zone in the near term.

EUR/USD stays depressed and quickly reversed an earlier bullish attempt to the 1.1900 region on turnaround Tuesday.

Further decline now looks likely on the back of the current recovery in the dollar. That said, another visit to recent lows near 1.1800 (July 2) appears to be gaining momentum in the very near term.

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1998.

EUR/USD DAILY CHART



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