• EUR/USD bounces off Thursday’s 2020 low near 1.1100.
• Near-term outlook remains negative below the 1.1350 zone.

EUR/USD trades on a better mood and regains the area further north of the 1.1200 barrier at the end of the week.

Thursday’s intense retracement dragged spot to new YTD lows just above of the 1.1100 mark. The pair remains under pressure and while capped by the 5-month resistance line, today near 1.1350, further losses should remain well on the cards. The breach of the 2022 low exposes an initial drop to the round levels at 1.1100 followed by 1.1000.

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1618.

EUR/USD daily chart