EUR/USD Price Analysis: Another drop to 2021 lows looms closer

  • EUR/USD trades within a consolidative mood in the mid-1.1500s.
  • The YTD low at 1.1529 now emerges on the horizon.

EUR/USD alternates gains with losses always below the 1.1600 mark at the beginning of the week.

Another visit to the 2021 low at 1.1529 remains well on the table in the near future amidst the ongoing bearish context. Further south from here, a test of the 1.1500 neighbourhood should start emerging on the horizon.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1943.

EUR/USD daily chart

Articles You May Like

EURGBP erases gains and returns to a familiar bias defining level
USD/CAD pares its losses, though capped between the 100/200-DMAs
Food prices fell sharply in July — but the respite may not last
Markets in Hibernation as US CPI Awaited
NFT games have edge over ‘money in, no money out’ games: Polygon’s Urvit Goel

Leave a Reply

Your email address will not be published.