The euro’s rally appears to be over. The euro buyers stopped at 1.2000 where sellers seized control. The pair sharply dropped and after breaking 1.1950 and 1.1900 levels tested 1.1850 on Wednesday. The level rejected the spot upwards. The euro was able to reverse some of its losses during the first part of the day on Thursday. The price pushed away from 1.1850 and recovered to 1.1920 during the European session. The resistance resides at 1.1950, the support comes in at 1900.
ellers need to move below 1.1850 to extend their gains. Meanwhile, the euro will be well bid today. A fresh buying pressure may lead the spot to 1.1950.