- EUR/USD is now attempting a rebound to levels above the key barrier at 1.11 the figure on the back of the current tariffs-led dip in the greenback.
- The immediate hurdle aligns at 1.1101 (previous YTD low) ahead of the more relevant 1.1130 area, where sits the 10-day SMA.
- However, while below the key 55-day SMA at 1.1229, the downside bias should remain unchanged and allow for another visit to new 2019 lows in the vicinity of 1.1020.
- Further downside thus remains on the cards with the next target of significance at 1.0839 (2017 lows recorded on May 11).
EUR/USD daily chart
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