- EUR/USD falls back to the 1.0660 area, or multi-week lows.
- Further losses below 1.0600 expose the March low.
He EUR/USD quickly puts behind the decent advance of Tuesday and resumes the downtrend on Wednesday.
The pair remains under strong pressure and a break of the May low at 1.0658 (May 31) could open the door to a test of the round level at 1.0600 before the March low at 1.0516 (March 15).
A deeper pullback to the 2023 low at 1.0481 (Jan 6) would likely require a sharp deterioration in the outlook, which does not look favorable at the moment.
Longer-term, constructive view remains above the 200-day SMA at 1.0492 today.
EUR/USD daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
