EUR/USD PRICE ANALYSIS: A DROP TO 1.0516 LOOMS CLOSER
- EUR/USD drops to new multi-month lows around 1.0570.
- Extra losses could extend to the March low near 1.0515.
EUR/USD maintains the bearish pressure well in place and prints new six-month lows in the 1.0570/65 band on Tuesday.
If the pair breaches this level in the short-term horizon, it could then open the door to a potential retracement to the March low of 1.0516 (Mar 8), which is the last defence ahead of an assault on the 2023 low at 1.0481 (January 6).
While below the key 200-day SMA at 1.0828, the pair is likely to face extra weakness
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.