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- EUR/USD Price Analysis: Room for extra decline near term
EUR/USD Price Analysis: Room for extra decline near term
- EUR/USD resumes the downtrend, retests 1.0850 on Tuesday.
- Next on the downside comes the 2022 low at 1.0805.
EUR/USD fades the bull run to the 1.0900 zone soon after the release of US inflation figures.
Considering the ongoing price action, further decline remains in store for the pair in the short-term horizon. Against that, a break below the so far monthly low at 1.0836 (April 8) should open the door to a move to the YTD low at 1.0805 (March 7).
The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1450
EUR/USD daily chart
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