EUR/USD Price Analysis: A test of 2021 low not ruled out

Market news

2 November 2021

EUR/USD Price Analysis: A test of 2021 low not ruled out

EUR/USD comes under pressure and falters above 1.1600.
A deeper move to the YTD low at 1.1524 is not discarded.

EUR/USD remains on the defensive and returns to the sub-1.1600 area on Tuesday.

EUR/USD’s earlier bullish attempt ran out of steam just past 1.1600 the figure and forced the pair to refocus on the downside and on another potential visit to the 2021 low at 1.1524 (October 12) at the same time.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1898.

EUR/USD daily chart

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