The EUR/USD is flirting with weekly lows of 1.1880.
The 1.1850 zone is the next relevant support zone.
On Wednesday, the EUR/USD offered bias accelerates even more.
If the selling pressure intensifies, the pair is more likely to revisit the 1.1850 region, or monthly lows, in the near term.
The EUR/USD is expected to continue bearish in the near term as long as it remains below the crucial 200-day SMA, which is now at 1.1995.
With gains thus far capped at 1.1970, current oversold levels may allow for a near-term rebound.
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