• EUR/USD remains well on the defensive and it has recorded fresh weekly lows in the 1.0990/85 band earlier in the session.
  • That said, if the selling impetus picks up extra steam the next target will be at the 1.0930 region ahead of the 2019 low at 1.0879.
  • On the flip side, immediately above emerges the 55-day SMA at 1.1035. A breakout of this level is needed to reassert the positive outlook and allow a potential move to the 1.1100 region.

EUR/USD daily chart