• EUR/USD remains under pressure in the lower end of the range.
• Further decline could see the 2022 low at 0.9863 revisited.

EUR/USD alternates gains with losses around the 0.9900 region on Wednesday.

Against that, the inability of the pair to regain serious upside traction should keep the door to further retracement open in the near term. Extra losses face the immediate target at the 2022 low at 0.9863 (September 6) seconded by 0.9859 (December 2002 low) and then 0.9685 (October 2002 low).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0773.

EUR/USD daily chart