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EUR/USD Value Evaluation: Losses to assemble traction under 1.1350

  • EUR/USD navigates the realm of 2021 lows close to 1.1360.
  • A drop under 1.1350 opens the door to a deeper pullback.

EUR/USD stays below heavy strain and retains navigating the realm of the current YTD low close to 1.1350.

The continuation of the downtrend seems favoured within the short-term horizon. That mentioned, the 2008-2021 line emerges as a crucial help round 1.1350. A break under this space in a convincing trend exposes a retracement to, initially, July 2020 low at 1.1185 forward of 1.11688 (low June 19 2020).

Within the meantime, further losses stay on the playing cards so long as the pair trades under the instant resistance line (off September’s excessive) right this moment close to 1.1620. Within the longer run, the damaging outlook persists whereas under the 200-day SMA, right this moment at 1.1869.

EUR/USD day by day chart

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