The Euro has no bottom

The Euro versus the Dollar seems to have no bottom and the pair continues falling as shown on the daily chart. The EUR/USD falls below the 1.1700 levels and reaches the 1.1650 zone. The pair may continue falling, but the 1.1600 level could act as a support. However, the pair may even break below the 1.1600 level due to the fact that the 55 day EMA is pointing down and it could cross below the 200 day EMA. In case of a cross of the 55 day EMA and the 200 day EMA, we would see a death cross, which has bearish implications in the mid-term. To the upside, the round number levels could act as resistance, but the most relevant resistance is at the 1.2000 level where we can find the 200 day EMA and where the price already created a breakout and pullback pattern.