EUR/USD: risk to the downside below 1.1200 - FXStreet

Valeria Bednarik, chief analyst at FXStreet, highlighted that despite a decline was seen during the American session, the EUR/USD pair still keeps a neutral stance above the 1.1200 handle.

Key Quotes

"The pair maintains a neutral stance, having stalled its advance below last week's high of 1.1283, still the level to surpass to confirm more sustainable EUR gains. The 4 hours chart suggests that such scenario is becoming unlikely, as the technical indicators in the mentioned chart have turned sharply lower within positive territory from near overbought readings, whilst the price is now back around its 100 and 200 horizontal moving averages.  While it is too early to call for a slide according to technical readings, further slides below the 1.1200 level will put the pair at risk of a downward extension towards the base of this week's range at 1.1120."