EUR/USD Price Analysis: Interim support lines up at 1.1976

• EUR/USD clinches new lows near 1.1980 on Wednesday.
• Further south comes in the Fibo level at 1.1976.

EUR/USD alternates gains with losses around the psychological 1.2000 neighbourhood in the middle of the week.

The continuation of the leg lower is seen meeting the initial support at the Fibo level (of the November-January rally) at 1.1976 ahead of the more significant 200-day SMA at 1.1940.

Below the 200-day SMA (1.1937) the stance for EUR/USD is seen shifting to negative.

EUR/USD daily chart