EUR/USD Price Analysis: Another test of the 2022 low remains in the pipeline

  • EUR/USD bounces off multi-week lows near 1.0870 .
  • A visit to the YTD low in the 1.0800 zone looks likely.

EUR/USD regains the 1.0900 barrier and beyond after bottoming out in the 1.0870 region on Wednesday.

Considering the ongoing price action, further decline remains in store for the pair in the short-term horizon. Against that, a drop below the so far weekly low at 1.0875 (April 6) should put a visit to the 2022 low back on the radar in the relatively short-term horizon.

The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1469

EUR/USD daily chart

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