The decline of the EUR/USD has reached below the 1.1900 level. Moreover, on Tuesday and Wednesday, the rate confirmed the 1.1910 level as resistance. In the near term future, the rate was expected to continue to decline.
In theory, the rate should aim at the technical support of the weekly S1 simple pivot point at 1.1866. In the case that this level gets passed, the pair could look for support in the 1.1850 marks and the June low levels.
On the other hand, if the pair manages to find support in the weekly S1 simple pivot point, the pair would surge. A potential surge would find resistance first in the 1.1910 level and afterward the 55, 100, and 200-hour simple moving averages and the weekly simple pivot point in the 1.1913/1.1924 range.
