EUR/USD Technical Analysis: Further downside should test the 100-day SMA at 1.1259
|- EUR/USD extended the recent breakdown of the 200-day/week SMA in the mid-1.1300s and dropped to multi-day lows in the vicinity of 1.1270.
- Further retracements are now on the table and could test the 100-day SMA in the 1.1260 region ahead of the 55-day SMA at 1.1231.
- On the other hand, and If spot manages to resume the upside, the next hurdle emerges near 1.1420, or last week’s highs, ahead of the more relevant 1.1450, or March tops.
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