similarApricot39066

EUR/USD regains the smile following recent strong pullback. The

OANDA:EURUSD   Euro / U.S. Dollar
EUR/USD regains the smile following recent strong pullback.
The YTD low at 1.1272 emerges as the next support.

EUR/USD regains some buying interest after bottoming out in the proximity of 1.1310 on Tuesday.

The bias appears tilted to further retracement in the very near term. That said, a deeper decline remains on the cards if spot breaks below the weekly low at 1.1314 (January 18). Such a move should open the door to a test of the so far YTS low at 1.1272 (January 4).

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1722.

EUR/USD daily chart

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.