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EUR/USD has reached a daily low of 1.0725, now trading in the 1.0800 region. Valeria Bednarik, a Chief Analyst at FXStreet, examines the EUR/USD pair from a technical perspective.

Key quotes

“The short-term picture is bearish, with scope to extend the slump during the upcoming hours.”

“In the 4-hour chart, the pair is currently developing below all of its moving averages, with a firmly bearish 20 SMA, now crossing below the 200 SMA, both around 1.1010.”

“Support levels: 1.0725 1.0780 Resistance levels: 1.0800 1.0835”