• EURUSD broke key support level 1.1200
• Likely to fall to support level 1.100
EURUSD currency pair continues to fall strongly after this currency pair broke the key support level 1.1200 (which has been reversing the price from June of 2020, as can be seen from the daily EURUSD chart below). The breakout of the support level 1.1200 accelerated the active minor impulse wave 1 from the start of January.
Given the strength of the active daily downtrend and the rising euro outflows seen across the FX markets today – EURUSD currency pair can be expected to fall further toward the next support level 1.100 (likely price for the completion of the active impulse wave 1).