EUR/USD Price Analysis: Another drop to 1.0655 stays on the table
|- EUR/USD regains the smile following Wednesday’s marked drop.
- Immediately to the downside appears the monthly low near 1.0650.
EUR/USD extends the multi-session consolidative phase around the 1.0700 neighbourhood so far on Thursday.
If the selling pressure gathers extra impulse, the pair could challenge he February low at 1.0655 (February 13) in the short-term horizon. The breach of the latter exposes further weakness to the YTD low at 1.0481 (January 6).
In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0325.
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.