- EUR/USD continues the rejection from the 1.19 on Thursday.
- Beyond 1.19 the pair targets 1.1920 the monthly peak.
EUR/USD extends Wednesday’s losses. The low 1.1800s provides decent support.
If bearish momentum picks up the pair could decline further, to last week’s lows at 1.1750 prior to support around 1.1700.
On the flip side after 1.1900 the monthly high at 1.1920 (November 9) could be targeted.
Whilst EUR/USD trades above its 200-day SMA, 1.1371, the longer-term bullish bias remains.