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- EUR/USD Price Analysis: Selling pressure alleviated above 1.0180
EUR/USD Price Analysis: Selling pressure alleviated above 1.0180
- EUR/USD treads water below the parity zone on Thursday.
- The pair needs to clear the multi-month resistance line near 1.0180.
EUR/USD trades in an inconclusive fashion, while a break above the parity level remains elusive on Thursday.
If the recovery picks up extra pace, then the interim hurdle comes at the 55-day SMA at 1.0163 prior to the key 7-month resistance line, today near 1.0180. A move beyond the latter is needed to reduce the selling bias and allow the pair to confront the September high at 1.0197 (September 12) before the 100-day SMA at 1.0325.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0735.
EUR/USD daily chart
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