EUR/USD Price Analysis: Further decline in the pipeline

EUR/USD bounces off Tuesday’s YTD low near 1.1520.
Further south comes the round level at 1.1500.

EUR/USD reverses two consecutive daily pullbacks, including new 2021 lows in the proximity of the 1.1520 level.

Prospects for the continuation of the downtrend remains well in place, and a break below 1.1524 is expected to put a visit to the 1.1500 neighbourhood back on the radar in the relatively short-term horizon.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1935.

EUR/USD daily chart

Oct 13, 2021

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