EUR/USD Price Analysis: Scope for a visit to the 2017 low at 1.0340

Market news

12 May 2022

EUR/USD Price Analysis: Scope for a visit to the 2017 low at 1.0340

EUR/USD collapses to fresh lows in the sub-1.0400 area.
The door is now open to a visit to the 2017 low at 1.0340.

EUR/USD saw its decline markedly accelerated on Thursday, breaking below the 1.0400 support for the first time since early January 2017.

Extra retracements remain well on the cards for the time being. That said, bets are now on the rise for a test of the 2017 low at 1.0340 sooner rather than later. This area is reinforced by the 2003 low at 1.0334 (January 2).

Below the 3-month line near 1.0910, the pair is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily chart

Currencies. Daily history for Thursday, May 12, 2022

Commodities. Daily history for Wednesday, May 11, 2022

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