EUR/USD technical analysis: Rising odds for a test of 2019 lows near 1.1100 in the short-term
|- EUR/USD remains well into the negative territory, reversing at the same time two consecutive weekly closes with gains.
- The bearish stance is expected to prevail as long as the pair navigates below the key multi-month resistance line at 1.1291.
EUR/USD's technical picture keeps favoring the bears. The pair is heading to a losing close after two consecutive winning weeks.
Its inability to clear the critical 1.1250/60 band – where coincide monthly tops and the 55-day simple moving average – has opened the door to a return of sellers and the palpable chance of a visit to year-to-date lows in the 1.1100 neighbourhood in the next weeks.
EUR/USD daily chart
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