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EUR/USD trading at a fresh year low below 1.2800 - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD resumed its decrease ahead of the US opening, dropping below the 1.2800 level.

Key quotes

"The 1 hour chart shows price accelerating below a bearish 20 SMA, with indicators heading lower below their midlines."

"In the 4 hours chart price remains contained below its 20 SMA, now around 1.2860, while indicators turned lower, albeit momentum stands around its midline."

"Current momentum points for a test of the main target at 1.2740 static support area, while a break below exposes the pair to a continued slide towards 1.2500 over the upcoming sessions."

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