- EUR/USD Price Analysis: Another drop to 0.9535 appears on the table
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29 September 2022
EUR/USD Price Analysis: Another drop to 0.9535 appears on the table
- EUR/USD partially fades Wednesday’s robust uptick to 0.9750.
- If bears regain the initiative, the pair could revisit the YTD low.
EUR/USD’s bullish attempt faltered once again at weekly highs around 0.9750, sparking a marked sell-off afterwards.
Odds for extra weakness in the European currency remain well on the table so far with the immediate target at the 2022 low at 0.9535 (September 28). A deeper drop could challenge the round level at 0.9500 ahead of the weekly low at 0.9411 (June 17 2002).
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0660.
EUR/USD daily chart
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