EUR/USD Technical Analysis: A breakdown of 1.1200 remains well on the cards

• EUR/USD has intensified the leg lower and so far met decent contention in the 1.1200 neighbourhood, or weekly lows.
• A break below the 1.1200 handle should see July low at 1.1193 re-tested ahead of June 18 low at 1.1181.
• In the meantime, the pair’s outlook stay negative while below the key 200-day SMA at 1.1320.

EUR/USD daily chart