- EUR/USD resumes declines and flirts with break of 1.0400.
- The June low at 1.0358 should offer some decent containment initially.
The EUR/USD keeps the bearish bias unchanged and continues to navigate the area of 2-week lows on Friday.
The inability to break above the 4-month line near 1.0640 should keep the bearish pressure around the pair for now. On the contrary, there is a small support at the weekly low of 1.0382 (June 30), before the June low at 1.0358 (June 15). A deeper pullback should put a visit to the 2022 low at 1.0348 (13 May) back on the radar.
In the long term, the bearish view of the pair is expected to prevail as long as it trades below the 200-day SMA at 1.1106.
EUR/USD daily chart
Technical levels
Source: Fx Street
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