The Euro fell further in early Monday after falling 1.3% on Friday and registering weekly close below psychological 1.10 level.
The sentiment remains negative, as growing uncertainty over Ukraine crisis and fears of massive impact on European economy from sanctions on Russia which resulted in skyrocketing energy prices, continues to boost risk aversion and keep the single currency under strong pressure.
Bears eye 2020 low at 1.0635 with minor obstacles at 1.0766 and 1.0727 (May, Apr 2020 lows) seen en-route.
Bearish stance is reinforced south-heading 14-d momentum deeper into negative territory and multiple bear-crosses of daily moving averages.
Former key supports at 1.1000/40 (psychological / Fibo 76.4% of 1.0635/1.2349) reverted to strong resistances which are expected to limit upticks and keep bears firmly in play.
Res: 1.0928; 1.0951; 1.1000; 1.1040.
Sup: 1.0821; 1.0800; 1.0766; 1.0727.
