EUR/USD Price Analysis: Rising bets for a drop to parity

Market news

8 July 2022

EUR/USD Price Analysis: Rising bets for a drop to parity

EUR/USD’s price action remains depressed on Friday.
Further weakness could test the parity zone soon-ish.

EUR/USD drops and rebounds from fresh cycle lows around 1.0070 on Friday.

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). The loss of this level could lead up to a visit to parity for the first time since December 2002.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1071.

EUR/USD daily chart

Currencies. Daily history for Friday, July 8, 2022

Commodities. Daily history for Thursday, July 7, 2022

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