EUR/USD Price Analysis: Interim top in place?

Market news

29 August 2022

EUR/USD Price Analysis: Interim top in place?

EUR/USD regains composure after the earlier drop near 0.9900.
Bullish attempts should meet initial hurdle near 1.0100.

EUR/USD reverses the initial pessimism, including a test of the vicinity of the 0.9900 zone on Monday.

The recent failure to advance beyond 1.0100 leaves this region as a potential near-term top, while the 0.9900 neighbourhood seems to offer quite a decent contention for the time being. The breach of the 2022 low at 0.9899 (August 23) could sponsor a deeper pullback to the December 2002 low at 0.9859.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0819.

EUR/USD daily chart

Currencies. Daily history for Monday, August 29, 2022

Commodities. Daily history for Friday, August 26, 2022

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