EUR/USD Price Analysis: A drop to the parity level emerges on the horizon
|- EUR/USD extends the decline to the 1.0050/45 band.
- Next on the downside appears a potential test of the parity zone.
EUR/USD adds to the recent weakness and extends the breach of the 1.0100 level at the end of the week.
Further losses appear on the cards as well as a probable visit to the parity level in the short-term horizon. The loss of this key support zone could expose a deeper retracement to the YTD low at 0.9952 (July 14).
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0859.
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.