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  • EUR/USD is rebounding from Tuesday’s new YTD low at 1.0925 and approaches the psychological 1.10 handle.
  • The bounce off the ‘oversold’ condition could see the 1.10 area surpassed, opening the door for a test of the 10-day SMA at 1.1046, where the upside is expected to falter.
  • Looking at the broader picture, the negative view is seen unchanged while below the short-term support line, today at 1.1143.

EUR/USD daily chart