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EUR/USD Testing 2022 Low

Mohamed Abdelhamid 6 April, 2022 5:34 pm Forex Market, Market Update

The EUR/USD pair 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 expected 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.

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