- EUR/USD loses further ground and trades closer to 1.0800.
- The loss of this level exposes a move to April low at 1.0788.
EUR/USD maintains the bearish price action and slips back to the vicinity of the 1.0800 neighbourhood on Wednesday.
The 1.0800 area appears supported by the temporary 100-day Simple Moving Average (SMA) at 1.0804 and the loss of this level could trigger a deeper drop to, initially, the April 3 low at 1.0788. Further south emerges the March 15 bottom of 1.0516.
Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0460.
EUR/USD daily chart
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