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- EUR/USD Price Analysis: Rising bets for further weakness
EUR/USD Price Analysis: Rising bets for further weakness
- EUR/USD drops further and prints new lows near 1.0840.
- Further downside could see the 2022 low revisited.
EUR/USD extends the bearish move to fresh multi-week lows in the 1.0845/40 band on Friday.
Considering the ongoing price action, further decline remains well in place for the pair in the short-term horizon. That said, the 2022 low at 1.0805 (March 7) should come next followed by the May 2020 low at 1.0766 (May 7).
The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1459.
EUR/USD daily chart
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