EUR/USD extends its losses for the second consecutive day, trading around 1.0730 during the Asian session on Friday.
The EUR/USD pair could test a level of 1.0700 following the throwback support level of 1.0601. Technical analysis of the daily chart suggests a bearish bias for the pair. The immediate barrier appears at the lower boundary of the rectangle formation around the 50-day EMA at 1.0802. A technical analysis of a daily chart suggests a bearish bias for the pair, as it struggles below the lower threshold of a rectangle formation.
A return to the rectangle formation could weaken the bearish bias and reinforce the pair to explore the psychological level of 1.0900, aligned with the upper boundary of the rectangle formation around the level of 1.0905. A breakthrough above the latter could support the pair to explore the region around March’s high of 1.0981. EUR/USD: Daily Chart EUR/USD Overview Today last price 1.0736 Today Daily Change -0.0001 Today Daily Change % -0.01 Today daily open 1.0737 Trends Daily SMA20 1.
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