- EUR/USD bounces away from Thursday’s 2020 low near 1.1100.
- The short-term outlook remains negative below the 1.1350 area.
The EUR/USD is trading in a better mood and recovers the area above the 1.1200 barrier at the end of the week.
Thursday’s sharp pullback dragged the pair to fresh yearly lows just above 1.1100. EUR/USD remains under pressure and while capped by the 5-month resistance line near 1.1350 today, further losses should remain on the cards. Break of 2022 low exposes initial drop to round levels at 1.1100 followed by 1.1000.
The negative outlook for EUR/USD is expected to remain unchanged while trading below the key 200-day SMA today at 1.1618.
EUR/USD daily chart
Additional technical levels
Source: Fx Street
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