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- EUR/USD Price Analysis: Abrupt change of direction could breach 0.9900
EUR/USD Price Analysis: Abrupt change of direction could breach 0.9900
- EUR/USD comes under heavy pressure and drops near 0.9940.
- The loss of 0.9900 could accelerates losses to the YD low at 0.9863.
EUR/USD reverses two consecutive daily gains and drops well south of the parity level on Friday.
The sudden slump in the pair now leaves the door open to extra weakness in the short-term horizon. Against that, a convincing breakdown of the 0.9900 level carries the potential to revisit the 20-year low at 0.9863 (September 6).
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0728.
EUR/USD daily chart
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