EUR/USD Price Analysis: Downside mitigated above 1.0770
|- EUR/USD gathers further impulse and surpasses 1.0600.
- The immediate target for bulls emerges at the 1.0770 region.
EUR/USD regains composure and extends the recovery beyond the key barrier at 1.0600 the figure at the end of the week.
In case the bounce becomes more serious, the pair is expected to target the weekly high of 1.0767 (September 12). The selling pressure is expected to alleviate once this level is cleared, allowing for a potential next move to the critical 200-day SMA, today at 1.0827.
Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA.
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.