EUR/USD Price Analysis: Extra losses exposes a visit to 1.1066/39
|- EUR/USD is prolonging the move lower on Tuesday.
- The 100-day SMA/support line at 1.1066 emerges as the next target.
EUR/USD has managed to regain some buying interest after bottoming out in the 1.1080/75 band at the beginning of the week.
The selling pressure has accelerated following the breach of the key 55-day SMA in the 1.1090 region. If the downside pressure gathers pace, then the 100-day SMA at 1.1066 should return to the radar. This area of contention is also reinforced by the 3-month support line.
The bearish view remains unchanged while below the 55-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.