- EUR / USD extends the slight recovery to the 1.1750 region.
- The pair could still retest the area of the 2021 lows near 1.1700.
EUR / USD managed to regain some ground and bounced off recent yearly lows in the neighborhood of 1.1700.
It is considered that the selling pressure on the pair would ease somewhat if there is a break of the 200-day SMA, today at 1.1867. Until then, sellers are expected to remain in control, leaving the door open for another visit to this year’s lows in the 1.1700 zone (March 31 low).
Below 1.1700 there are no relevant support levels until the November 2020 lows at the 1.1600 zone.
As long as it is below the 200-day SMA, the short-term stance for EUR / USD is expected to remain bearish.
EUR / USD day chart
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