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  • EUR/USD dropped and recorded fresh 2019 lows near 1.1100 the figure on Thursday, although it managed not only to close the day with gains but also reverse that drop and reclaim the 1.1200 barrier and above.
  • The continuation of the corrective rebound carries the potential to extend and re-test the 55-day SMA ahead of 1.1240.
  • The broader perspective, however, remains bearish as long as the multi-month resistance line at 1.1275, caps the upside.

EUR/USD daily chart