EUR/USD Comes Under Additional Pressure

The EUR/USD pair is trading at 1.0596 at the time of writing. It is noteworthy that the pair has come under weighty pressure and now is breaching 1.0600. Extra losses look likely while below the 55-day SMA at 1.0713. the pair quickly faded the Wednesday’s uptick and returns to the sub-1.0600 region on Thursday.

While below the temporary up barrier at the 55-day SMA, today at 1.0713, the pair remains vulnerable to further losses. Against that, another visit to the February low at 1.0532 (February 27) should not be ruled out.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0327.