Home EUR/USD Technical Analysis: Further downside now exposes 2019 lows near 1.1100

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EUR/USD Technical Analysis: Further downside now exposes 2019 lows near 1.1100

FX Street

Published date: 24 Jul. 2019 | 09:57

EUR/USD is accelerating the leg lower today on the back of USD-buying and poor PMI prints.
The cross has breached the key contention area at 1.1181/76 and has now paved the way for a probable visit to yearly lows in the boundaries of 1.1100 the figure.
Only above recent tops in the 1.1280/90 band the pair should alleviate downside pressure and attempt a test of the critical barrier in the 200-day SMA at 1.1313 (unlikely scenario in the near term at least).

EUR/USD daily chart

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