• EUR/USD comes under pressure and puts 0.9700 to the test.
• Further south emerges the October low near 0.9630.

EUR/USD accelerates losses and flirts with the key 0.9700 neighbourhood at the end of the week.

In case losses accelerate and the pair breaches 0.9700, then the next significant support is expected to appear at the October low at 0.9631 (October 13). Once cleared, there are no contention levels of note until the 2022 low at 0.9535 (September 28).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0536.

EUR/USD daily chart