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- EUR/USD Price Analysis: Rising bets for a test of the 2022 low
EUR/USD Price Analysis: Rising bets for a test of the 2022 low
- EUR/USD remains offered and breaches 1.0400.
- Next on the downside comes the June low at 1.0358.
EUR/USD keeps the leg lower well in place so far this week and now breaks below the 1.0400 support to print new 2-week lows.
The inability to leave behind the 4-month line near 1.0640 should keep the downside pressure unchanged around the pair. That said, if the selling bias gathers further impulse, then another visit to the June low at 1.0358 (June 15) could start emerging on the horizon ahead of the 2022 low at 1.0348 (May 13).
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1112.
EUR/USD daily chart
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