EUR/USD Price Analysis: Extra losses likely to test 1.1513

Market news

10 November 2021

EUR/USD Price Analysis: Extra losses likely to test 1.1513

EUR/USD navigates fresh 3-day lows near 1.1550.
A drop to the YTD low at 1.1513 remains on the cards.

EUR/USD fades three consecutive daily advances and recedes to the mid-1.1500s on Wednesday.

The inability of spot to break above recent peaks just above 1.1600 the figure has prompted sellers to return to the markets. Against that, a deeper decline could put another test of the YTD low at 1.1513 back on the radar in the short-term horizon ahead of the March 2020 high at 1.1495.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1882.

EUR/USD daily chart

New Zealand: Food Prices Index, y/y, October 3.7%

Japan: Prelim Machine Tool Orders, y/y , October 81.5%

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