EUR/USD Price Analysis: There’s no light at the end of the tunnel

• EUR/USD fades the post-Fed advance to 1.0640.
• The resumption of the downtrend looks increasingly likely.

EUR/USD sharply reverses two daily gains in a row and returns to the mid-1.0500s on Thursday.

The underlying bearish view in the pair remains well and sound and another visit to the 2022 low around 1.0470 (April 28) should not be ruled out for the time being. The breach of the latter should put the pair en route to a potential visit to the 2017 low at 1.0340 (April 21).

In the meantime, while below the 3-month line near 1.0960, extra losses in the pair are likely.

EUR/USD daily chart