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  • The pair is trying some consolidation in the lower bound of the range in the mid-1.1100s so far this week.
  • The lack of meaningful upside traction exposes EUR/USD to further downside, where YTD low in the 1.1100 area emerges as the immediate support of relevance.
  • While the negative stance is expected to persist below the multi-month resistance line at 1.1278, occasional bullish attempts should meet interim hurdle at the 55-day SMA at 1.1237.

EUR/USD daily chart