EUR/USD leaves behind a two-day recovery and shifts its attention to the downside and the 1.0500 neighbourhood on Monday. If bears remain in control,
If bears remain in control, another visit to the September low of 1.0488 should start emerging on the horizon just ahead of the 2023 low of 1.0481 .
Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0826.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD came under renewed bearish pressure and declined below 1.0550 during the European trading hours on Monday. The pair is weighed by a buoyant US Dollar amid higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell's speech eyed.GBP/USD turned south and retreated to the 1.2150 area after spending the Asian session in a tight range near 1.2200.
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