EUR/USD Price Analysis: Rising bets for drop to 1.0480

Market news

24 February 2023

EUR/USD Price Analysis: Rising bets for drop to 1.0480

EUR/USD rapidly loses the grip and trades in fresh lows near 1.0540.
Next on the downside emerges the 2023 low at 1.0481.

The downside pressure picks up extra impulse and forces EUR/USD to print new monthly lows in the 1.0545/40 band at the end of the week.

If sellers push harder, spot could extend the retracement to the 2023 low at 1.0481 (January 6), an area reinforced by the proximity of the temporary 100-day SMA, today at 1.0449.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0329.

EUR/USD daily chart

Currencies. Daily history for Friday, February 24, 2023

Commodities. Daily history for Thursday, February 23, 2023

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