Extended consolidation to precede final push towards key supports

The EURUSD is holding near new multi-week low in early European trading on Friday, after strong upside rejection and subsequent drop on Thursday.
Short-lived positive impact from ECB resulted in brief correction which was capped by initial barriers (falling 10/20DMA’s).
Upbeat German PMI data keep the pair afloat, but the reaction was so far minor.
Thursday’s bearish daily candle with long upper shadow, weighs on near-term action, with negative daily studies, adding to bearish outlook.
Formation of multiple death crosses (10/200; 20/200; 30/200 DMA’s) provided additional negative signals for continuation of larger downtrend and attack at key targets at 1.1704/1.1694 (2021 low / Fibo 38.2% of 1.0635/1.2349 rally).
Friday’s close below falling 20DMA (1.1829) to confirm bearish bias.

Res: 1.1801; 1.1829; 1.1850; 1.1881
Sup: 1.1751; 1.1737; 1.1704; 1.1694