EUR/USD Price Analysis: Stays bearish below the 200-day SMA

• EUR/USD has rebounded after hitting lows near the 1.08 mark.
• The April low at 1.0768 is seen as the next support of importance.

EUR/USD is prolonging the bounce off last week’s lows in the vicinity of the 1.0800 neighbourhood.

This area of support is reinforced by the Fibo retracement (of the 2017-2018 rally) at 1.0814. A breach of this area is expected to put the monthly low at 1.0768 (April 6th) back on the radar.

The negative stance on the pair is expected to remain unchanged below the 200-day SMA at 1.1050.

EUR/USD daily chart