Home EUR/USD Technical Analysis: The outlook remains bearish while below the 55-day SMA near 1.1230

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EUR/USD Technical Analysis: The outlook remains bearish while below the 55-day SMA near 1.1230

FX Street

Published date: 5 Aug. 2019 | 10:37

EUR/USD is prolonging the bounce off YTD lows near 1.1120, re-gaining over a cent and re-focusing on a potential visit to the 21-day SMA at 1.1183 in the near term.
While below the key 55-day SMA at 1.228, spot is expected to keep the downside bias unchanged.
A break above the short-term resistance line, today at 1.1205, should alleviate the selling pressure.

EUR/USD daily chart

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