EURUSD – bears accelerate in the US session, eye Fibo support at 1.1790

The Euro extends weakness in early US trading and hit session low at 1.1838 (the lowest since 22 Dec).
Strong bearish sentiment is reinforced by growing bearish momentum and formation of 10/200SMA death-cross.
Bears eye initial target at 1.1816 (22 Dec low) and more significant support at 1.1790 (Fibo 76.4% of 1.1553/1.2555).
Looking at larger picture, pullback from 2018 high at 1.2555 is correction of broader uptrend from 1.0340 (03 Jan 2017 low) to 1.2555 (16 Feb), which is expected to ideally reverse above 1.1709 (Fibo 38.2% of 1.0340/1.2555 rally) to keep larger bulls in play.
Res: 1.1873; 1.1897; 1.1936; 1.1978
Sup: 1.1838; 1.1816; 1.1790; 1.1737