EUR/USD Price Analysis: There is an interim hurdle at the 55-day SMA

Market news

18 October 2022

EUR/USD Price Analysis: There is an interim hurdle at the 55-day SMA

EUR/USD trades without conviction around the 0.9830 region.
Next on the upside aligns the 55-day SMA at 0.9956.

EUR/USD gives away the initial advance to the 0.9870 region and deflates to the 0.9830 area on Tuesday

Further recovery in the pair looks probable in the very near term. Against that, the 55-day SMA at 0.9956 emerges as the next temporary hurdle prior to the more relevant October top at 0.9999 (October 4).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0561.

EUR/USD daily chart

Currencies. Daily history for Tuesday, October 18, 2022

Commodities. Daily history for Monday, October 17, 2022

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