- EUR/USD bounces off fresh cycle lows near 0.9550.
- Further downside could revisit the 0.9411 level in the near term.
EUR/USD maintains bearish tone and falls to fresh two-decade lows near 0.9550, where some initial containment appears to have emerged.
The prospects for further weakness in the European currency remain very present for now. That said, the loss of the 2022 low at 0.9552 (Sep 26) should leave the pair vulnerable to challenge the 0.9500 area ahead of the weekly low at 0.9411 (June 17, 2002).
In the long term, the bearish view of the pair is expected to prevail as long as it trades below the 200 SMA at 1.0685.
EUR/USD day chart
Source: Fx Street
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