On the hourly chart the EUR/USD had made a big dip down to the 1.1170 level. During the move it revealed that the various technical support levels have only minor strength. Namely, they are not strong enough to keep the pair from falling.
Due to that reason it is expected that the rate could pass the combined support of the 100 and 200-hour simple moving averages. In that case the currency pair would decline afterwards to the 1.1160 level, as there is no technical support down to that level.
On the other hand, the currency exchange could continue to bounce around the 1.1200 level in sudden sharp moves both due to US trade politics and the psychological effect of the 1.1200 level.
