- EUR/USD remains under pressure, approaching 1.1800.
- The breakdown of 1.1800 could expose a deeper pullback.
EUR/USD is trading lower on the defensive for the third session in a row on Wednesday.
The prospect for a further decline picks up traction in the very near term. Against that, another visit to recent lows near 1.1800 (July 2) remains in the pipeline ahead of the 1.1770 region, where coincides a Fibo level and the support line off November 2020 lows.
Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key level today at 1.900.
Below 1.1808, the next support lines are at 1.1760, 1.17 and 1.1650. All played a role early in the spring. Resistance is at 1.1825, the daily peak, followed by 1.1885, which was a swing high earlier in the week. Further above, 1.1910 and 1.1950 await bulls.
