- EUR/USD Price Analysis: Another visit to the February low is not ruled out
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20 February 2023
EUR/USD Price Analysis: Another visit to the February low is not ruled out
- EUR/USD keeps the current side-lined trade unchanged.
- Immediately to the downside appears the monthly low near 1.0610.
EUR/USD trades without direction in the sub-1.0700 region at the beginning of the week.
If sellers regain the upper hand, pair could slip back to the February low at 1.0612 (February 17) in the near term. The breach of this level could see a potential test of the 2023 low at 1.0481 (January 6) emerge on the horizon.
So far, the bearish sentiment is expected to persist as long as the 3-month resistance line, today near 1.0890, caps the upside.
In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0328.
EUR/USD daily chart
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