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- EUR/USD Price Analysis: The 1.0100 zone holds the downside so far
EUR/USD Price Analysis: The 1.0100 zone holds the downside so far
- EUR/USD fades the earlier bull run to the 1.0250 area.
- Bears face decent support in the 1.0100 neighbourhood.
EUR/USD falters once again in the 1.0250/60 band, sparking a knee-jerk to the sub-1.0200 area soon afterwards.
The inability of the pair to leave behind this area of resistance could spark a more sustainable downside, which is expected to meet quite a strong support in the 1.0100 region, or weekly lows.
The loss of this area could accelerate losses to the key parity level prior to the 2022 low at 0.9952 (July 14).
In the meantime, the pair is expected to remain under downside pressure while below the 5-month support line around 1.0460.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0962.
EUR/USD daily chart
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