- EUR / USD regains traction and bounces away from monthly lows.
- Another test of the 2021 lows is still in play.
The EUR/USD finally regains the smile and retakes the barrier of 1.1700 and more on Thursday.
Despite the current rebound, the very short-term outlook for the pair still looks fragile. If the upside gains extra strength, then there are tentative hurdles at the 10-day SMA at 1.1758 followed by the 1.1790 / 1.1800 region, where the 55 and 20-day SMAs are located along with a Fibonacci level (from the June dip -August ).
A break below the September low of 1.1683 would expose the 2021 low of 1.1663 recorded on August 20.
Meanwhile, the short-term outlook for EUR / USD looks on the downside, while below the key 200-day SMA, today at 1.1980.
Daily chart
Technical levels
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