EUR/USD Price Analysis: Not out of the woods yet

EUR/USD manages to rebound from YTD lows close to 1.1560.
A drop to 1.1500 nonetheless floats on the horizon.
EUR/USD regains the smile and flirts with 1.1600 following 5 straight classes with losses on Friday.

The “technical rebound” from latest oversold stages ought to meet period in-between hurdle at the 10-day SMA at 1.1674 in the close to term. A sustained recuperation from right here appears unlikely, however, at least in the near/medium term. While the on the spot guide line (off September three highs) continues capping the upside, there must be room for similarly decline.

In the meantime, the near-term outlook for EUR/USD is viewed on the bad aspect beneath the key 200-day SMA, these days at 1.1963.

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