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EUR/USD Price Analysis: Bullish attempts appear limited near 1.0980

  • EUR/USD looks to regain upside traction following recent YTD lows.
  • Rallies are seen struggling in the 1.0980 region.

EUR/USD is struggling to get some serious traction after hitting new 2020 lows in the 1.0890 region on Tuesday.

Occasional bullish attempts are expected to meet strong resistance in the area of previous lows around 1.0980, always against the current bearish backdrop.

In the broader picture, while below the 55-day SMA, today ay 1.1079, further downside should remain well on the table.

EUR/USD daily chart

 

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