EUR/USD Price Analysis: Negative view remains unchanged

Market news

7 July 2022

EUR/USD Price Analysis: Negative view remains unchanged

EUR/USD’s bullish attempt runs out of gas near 1.0220.
Further retracements look likely in the near term.

EUR/USD climbs as high as the 1.0220 region, although the move lacks follow through.

The pair’s bearish stance stays everything but abated for the time being. Against that, there is a minor support level at 1.0060 (low December 11 2002) prior to a test of the key parity area.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1078.

EUR/USD daily chart

Currencies. Daily history for Thursday, July 7, 2022

Commodities. Daily history for Wednesday, July 6, 2022

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