EUR/USD Technical Analysis: Scope for another test of 2019 low at 1.0904

FX Street

Updated: 30 Sep. 2019 | 11:52

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

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