EUR/USD Price Analysis: Upside capped by the parity zone so far

Market news

5 October 2022

EUR/USD Price Analysis: Upside capped by the parity zone so far

EUR/USD’s strong upside meets resistance around parity.
Sustained gains are likely once the parity level is cleared.

EUR/USD has so far met quite a solid hurdle in the proximity of the parity level on Wednesday.

Considering the recent strong rebound, further upside seems likely once the pair leaves behind the parity region on a sustainable fashion. Further up comes the interim hurdle at the 55-day SMA, today at 1.0030.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0632.

EUR/USD daily chart

Currencies. Daily history for Wednesday, October 5, 2022

Commodities. Daily history for Tuesday, October 4, 2022

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