EUR/USD Technical Analysis: A breach of 1.1200 should expose a deeper pullback

• The recent decline in EUR/USD has met support in the 1.1200 neighbourhood so far.
• A breakdown of this area should pave the way for an initial test of March low at 1.1176 ahead of 2019 lows at 1.1106 recorded on May 23.
• Furthermore, while below the critical 200-day SMA at 1.1358, further downside should not be ruled out.

EUR/USD daily chart