- EUR/USD accelerates the downside well below 1.2200.
- Bets rise on a probable visit to the 1.2100 neighbourhood.
Sellers regain the upper hand and drag EUR/USD back to the low-1.2100s at the end of the week.
The continuation of the downtrend looks likely in the very near term at least. That said, a move further south should meet the next contention at the so far monthly lows near 1.2100 the figure.
Extra losses are seen testing the minor support at the 50-day SMA, today at 1.2088 ahead of the Fiibo level at 1.2064.
The ongoing correction follows the recent bearish divergence in the daily RSI, as it did not confirm the late May peaks near 1.2270.
EUR/USD daily chart