- EUR/USD halts three consecutive daily advances.
- The 1.0770 region emerges as the initial hurdle for bulls.
EUR/USD struggles to continue the weekly recovery and seems to have met a decent resistance around 1.0770 so far.
The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, the breach of the 1.0700 region could encourage sellers to embark on a probable visit to the September low of 1.0685 (September 7) ahead of the May low of 1.0635 (May 31).
In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0826.
EUR/USD daily chart
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