EUR/USD Price Analysis: A deeper drop could retest 1.0830
|- EUR/USD adds to Friday’s corrective decline well below 1.1000.
- The weekly low near 1.0830 emerges as the next support of note.
EUR/USD retreats to 3-day lows in the mid-1.0900s following a failed attempt to retake the key barrier at 1.1000 the figure on Monday.
Further weakness appears on the cards in the very near term for the pair. Against that, there is an initial support at the weekly low at 1.0831 (April 10) prior to April low at 1.0788 (April 3).
Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0373.
EUR/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.