EUR/USD Price Analysis: Still scope for a visit to 1.0641

Market news

18 May 2022

EUR/USD Price Analysis: Still scope for a visit to 1.0641

EUR/USD meets some sellers in the 1.0560 zone.
Extra recovery should target the monthly top at 1.0641.

EUR/USD surrenders part of the recent advance after hitting new weekly peaks in the 1.0560/65 band on Wednesday.

Considering the pair’s ongoing price action, the continuation of the rebound appears likely in the very near term at least. Against that, the next hurdle emerges at the May high at 1.0641 (May 5) prior to the temporary 55-day SMA, today at 1.0809.

Below the 3-month line near 1.0880, the pair is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily chart

Currencies. Daily history for Wednesday, May 18, 2022

Commodities. Daily history for Tuesday, May 17, 2022

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