The EURUSD is pushing to fresh lows for the day—and for the week—after breaking below Monday’s low at 1.3287. With bearish momentum building, the next downside targets include last week’s low at 1.1307, followed by a key support zone on the daily chart between 1.1271 and 1.1275.

• The 1.1271 level marks the 61.8% retracement of the move up from the 2020 low,
• The 1.1275 corresponds to the high from July 2023.

A break of that zone would be technically significant.

Adding to the bearish bias, the price has moved further away from both the 100- and 200-hour moving averages. Yesterday, the 100-hour MA acted as support, but today’s rally attempt stalled just short of the 200-hour MA—now reinforcing resistance.