EUR/USD Technical Analysis: Rallies appear capped by 1.0950. Further decline remains on the cards

• Despite the rebound from Tuesday’s YTD low at 1.0879, occasional bullish attempts in EUR/USD are expected to lose momentum in the mid-1.0900s for the time being.
• That said, a breach of the 1.0880 region should pave the way for a move lower to the May 2017 low at 1.0839.
• On the broader scenario, while below the short-term resistance line, today at 1.1043, the negative outlook in the pair is seen unchanged.

EUR/USD daily chart