EUR/USD flirts with weekly lows near the 1.1880 region

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EURUSD0911The offered bias in EUR/USD picks up the extra pace on Wednesday. If the selling impulse accelerates, then there is the increasing chance that the pair could re-visit the area of 1.1850, or monthly lows, in the short-term horizon.

The near-term outlook for EUR/USD is forecast to remain on the negative side while below the key 200-day SMA, today at 1.1995. Current oversold conditions could allow for a near-term rebound, with gains so far capped around 1.1970.

 

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