EUR/USD Price Analysis: Bouts of strength should be short lived

Market news

19 April 2022

EUR/USD Price Analysis: Bouts of strength should be short lived

EUR/USD reverses the earlier drop to 1.0760 and regains 1.0800.
Another visit to the 2022 low near 1.0750 remains in store.

EUR/USD regains the smile somewhat and reverses three consecutive daily drops on Tuesday.

In light of the ongoing price action, extra losses in the pair remain in the pipeline in the short-term horizon. Against that, a break below the so far 2022 low at 1.0757 (April 14) should open the door to a quick visit to 1.0727 (low April 24 2020) before the 2020 low at 1.0635 (March 23).

While below the 200-day SMA, today at 1.1424, the outlook for the pair is expected to remain negative.

EUR/USD daily chart

Currencies. Daily history for Tuesday, April 19, 2022

Commodities. Daily history for Monday, April 18, 2022

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