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- EUR/USD Price Analysis: Negative outlook remains well in place
EUR/USD Price Analysis: Negative outlook remains well in place
- EUR/USD tumbles further and clinches new YTD lows.
- Extra decline could test the parity zone soon-ish.
EUR/USD drops to new cycle lows around the 1.0050 region at the beginning of the week.
The pair’s bearish stance stays everything but abated for the time being. Against that, there are no support levels of note until the critical parity zone. Further south comes the December 2002 low at 0.9859.
As long as the pair navigates below the 5-month support line near 1.0580, further losses remain in store.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1063.
EUR/USD daily chart
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