EUR/USD Price Analysis: Extra weakness targets 1.1835

• EUR/USD met support near the Fibo level around 1.1890.
• Further down comes in the March 9 low at 1.1835.

EUR/US’s deep pullback met some contention just below 1.1900 the figure so far on Friday, clinching new 2-month lows.

The loss of the 200-day SMA (1.1991) does not bode well for spot and allows for the continuation of the leg lower. A deeper move could retest the March 9 low at 1.1835 ahead of the YTD lows in the 1.1700 neighbourhood (March 31).

On the broader view, the outlook for EUR/USD is forecast to remain on the negative side while below the 200-day SMA, today at 1.1991.

EUR/USD daily chart