EUR/USD Price Analysis: A move to the mid-1.1800s is not ruled out

• EUR/USD starts the week on a negative footing.
• There is a minor support at a Fibo level at 1.1887.

EUR/USD kicks in the trading week on the defensive and approaching the key support at 1.1900 the figure.

If the sellers regain control of the market, then there is an interim support at the Fibo level (of the November-January rally) at 1.1887. Further south aligns the Fed-induced monthly low at 1.1847 (June.18).

The near-term outlook for EUR/USD is forecast to remain on the negative side while below the key 200-day SMA, today at 1.1994.

EUR/USD daily chart