EUR/USD faces a corrective decline and falls to 1.0860. Short-term bullish bias remains intact above 1.0690. EUR/USD retreats for the second time in a row and revisits the 1.0860 area on Friday. Above the short-term support line around 1.0690, the pair should see further gains. Continuation of the uptrend should now quickly reset the 2023 high at 1.0929 (Jan 26) to test the weekly high of 1.0936 (Apr 21, 2022). A sustained rise above this level could pave the way for a challenge of the key 1.1000 barrier sooner rather than later. Long-term, the constructive view remains unchanged, despite breaking today’s 200-day SMA, 1.0309.