EUR/USD Price Analysis: Extra pullbacks seen below 1.0800

 


  • EUR/USD fades the initial move north of 1.0900.
  • Recent lows around 1.0800 emerge as the next contention area.

EUR/USD fades the pre-ECB uptick to the 1.0920 zone on Thursday.

In light of the ongoing price action, extra losses in the pair remain in the pipeline in the short-term horizon. Against that, a break below the so far monthly low at 1.0808 (April 14 should pave the way for a quick visit to the 2022 low at 1.0805 (March 7) before the May 2020 low at 1.0766 (May 7).

While below the 200-day SMA, today at 1.1440, the outlook for the pair is expected to remain negative.

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