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  • EUR/USD has resumed the broad-based downside on Monday, quickly leaving behind Friday’s positive price action.
  • Further decline thus remains well on the cards and opens the door to a potential visit to the 2019 low at 1.0904. A breach of this level should allow for a deeper retracement to, initially, the May 2017 lows in the 1.0840 region.
  • The bearish outlook on the pair is seen unaltered as long as the resistance line, today at 1.1049, caps the upside.

EUR/USD daily chart