- EUR / USD turns lower and tests the 1.19 zone on Friday.
- An extension of the slide is not ruled out, leading to a test of recent lows near 1,830.
EUR / USD’s bull run encountered a stiff barrier in the vicinity of the 1.20 psychological barrier in the second half of the week.
The continuation of the bearish bias could motivate the EUR / USD to attempt another visit to the 2021 lows in the 1.1835 / 30 band (March 9 low) in the near term. This zone of lows is reinforced by the proximity to the key 200-day SMA, today at 1.1828.
Below 1.1825, potential losses are expected to accelerate. That said, the pair could test the 2008-2020 support line at the 1.1600 area. This scenario, however, is not favored at the moment.
EUR / USD day chart
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