EUR/USD is under pressure sub 1.18
Further losses could see support retested at around 1.1750
EUR/USD has been trending lower in the first few days of this week, slipping below 1.1800 to a potentially steeper selloff
Even so, EUR/USD appears to be consolidating, a move to the contention zone in the 1.1700/1.1690 band (mid-August lows and a Fibo level) could still be on the cards. The daily RSI shows a bearish divergence which suggests that there could be more selling pressure in the near term
The longer term upbeat view on EUR/USD should remain unchanged on the condition the pair holds above its 200-day SMA, (1.1190 today)
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