EUR/USD Price Analysis: Another visit to the October low appears likely
|- EUR/USD comes under pressure and puts 0.9700 to the test.
- Further south emerges the October low near 0.9630.
EUR/USD accelerates losses and flirts with the key 0.9700 neighbourhood at the end of the week.
In case losses accelerate and the pair breaches 0.9700, then the next significant support is expected to appear at the October low at 0.9631 (October 13). Once cleared, there are no contention levels of note until the 2022 low at 0.9535 (September 28).
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0536.
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.