EUR/USD Price Analysis: Extra rebound in the pipeline near term

Market news

19 May 2022

EUR/USD Price Analysis: Extra rebound in the pipeline near term

EUR/USD bounces off lows around 1.0480 on Thursday.
Extra recovery should target the monthly top at 1.0641.

EUR/USD almost fully fades Wednesday’s retracement and shifts the attention to recent weekly highs near 1.0560.

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 1.0798.

Below the 3-month line near 1.0870, the pair is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily chart

Currencies. Daily history for Thursday, May 19, 2022

Commodities. Daily history for Wednesday, May 18, 2022

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