Home EUR/USD Technical Analysis: Outlook stays bearish below the 5-month resistance line at 1.1412

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EUR/USD Technical Analysis: Outlook stays bearish below the 5-month resistance line at 1.1412

FX Street

Updated: 22 Mar. 2019 | 10:12

EUR/USD remains on the defensive today, putting the 1.1300 support under further pressure on the back of miserable prints from PMIs in core Euroland.
The probable test of YTD lows in the 1.1180/75 band remains well on the cards as long as the 5-month resistance line, today at 1.1412, caps the upside.
On the upside, spot needs to clear the area of recent tops beyond 1.1400 the figure to allow for a potential move to the 1.1500 neighbourhood and beyond.

EUR/USD daily chart

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