At the close of the week, EUR/USD kept its multi-session bearish trend in place.

Now, a more significant decline is aimed towards the July 6 low of 1.0834. Losing this area makes the pair susceptible to a potential test of the crucial 200-day SMA at 1.0790 in the near future. While above the 200-day SMA, the pair’s favourable outlook is still intact.

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