The EUR/USD is bouncing off recent lows at 1.1780.
So far, the 2020-2021 support line has held the downside.
In the second half of the week, the EUR/USD manages to attract dip-buyers and trades near new 2-day peaks near 1.1850.
In the short term, the likelihood of additional fall appears to be unchanged. A difficult contention area exists in the 1.1770 zone, which coincides with a Fibo level and the 2020-2021 support line.
Further out, the EUR/USD is considered as having a bearish near-term outlook while trading below the important 200-day SMA, which is currently at 1.1999.
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