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- EURUSD Price Analysis: The 55-day SMA should hold the downside
EURUSD Price Analysis: The 55-day SMA should hold the downside
- EURUSD adds to the weekly decline below the parity level.
- The continuation of the downside could see the 55-day SMA retested.
EURUSD retreats for the second consecutive session and breaches the key parity mark on Thursday.
If spot accelerates losses, it could then challenge the 55-day SMA, today at 0.9888, prior to another visit to the 9-month support line around 0.9840. Below the latter, the pair could see the near-term bearish outlook reinstated.
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0442.
EURUSD daily chart
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