EUR/USD Price Analysis: Scope for a visit to the 2017 low at 1.0340
|- EUR/USD collapses to fresh lows in the sub-1.0400 area.
- The door is now open to a visit to the 2017 low at 1.0340.
EUR/USD saw its decline markedly accelerated on Thursday, breaking below the 1.0400 support for the first time since early January 2017.
Extra retracements remain well on the cards for the time being. That said, bets are now on the rise for a test of the 2017 low at 1.0340 sooner rather than later. This area is reinforced by the 2003 low at 1.0334 (January 2).
Below the 3-month line near 1.0910, the pair is expected to remain under pressure and vulnerable to extra losses.
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.