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- EUR/USD Price Analysis: Rebounds could be seen as selling opportunities
EUR/USD Price Analysis: Rebounds could be seen as selling opportunities
- EUR/USD bounces off lows in the parity level on Tuesday.
- Occasional rebounds follow the current overbought conditions.
EUR/USD drops and bounces off new lows in the parity zone on turnaround Tuesday.
The pair’s bearish stance remains everything but abated for the time being. Against that, intermittent bullish attempts could be deemed as selling opportunities, with the next target at the December 2002 low at 0.9859.
As long as the pair navigates below the 5-month support line near 1.0570, further losses remain in store.
In the longer run, the pair’s bearish view is expected to prevail while below the 200-day SMA at 1.1055.
EUR/USD daily chart
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