- EUR / USD bullish attempt fails below the 1.18 level.
- The door remains open for a resumption of the downtrend.
EUR / USD fails to test the 1.1800 region on Friday amid the prevailing consolidation range.
Despite the rebound seen in recent sessions, sellers remain in control of the pair’s price action, leaving it vulnerable to another move towards yearly lows around 1.1700.
Below that region there are no relevant support levels until the November 2020 lows in the 1.1600 area.
As long as it remains below the 200-day SMA today at 1.1869, the short-term stance of EUR / USD is expected to remain negative.
EUR / USD daily chart
EUR / USD technical levels
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