24-hour view: “Our expectation for EUR to ‘continue to advance’ was incorrect as it fell sharply from 1.1988 (low of 1.1905 during NY hours). While downward momentum has not improved by much, the decline in EUR could dip below 1.1900 first before stabilizing. The next support at 1.1880 is unlikely to come under threat. Resistance is at 1.1940 followed by 1.1960.”