EUR/USD Price Analysis: Extends downside break of 50-day SMA to refresh six-week low
EUR/USD takes offers near the lowest since December 09, 2020.
Sustained break of 50-day SMA, downward sloping RSI favor sellers.
Seven-day-old falling trend line adds to the upside barriers.EUR/USD takes offers near 1.2065, down 0.10% intraday, during Monday’s Asian session. In doing so, the currency pair drops to the fresh low since early December 2020 while stretching Friday’s downside break of 50-day SMA.In addition to the successful break below 50-day SMA, descending RSI line, which is far from oversold conditions, also back the EUR/USD bears in attacking 38.2% Fibonacci retracement of an upside from November 2020 to the monthly high.It should, however, be noted that December 02 low near 1.2040 and the 1.2000 threshold will be tough nuts to crack for the EUR/USD sel...