EUR/USD Price Analysis: The 55-day SMA caps the upside… for now

Market news

2 March 2023

EUR/USD Price Analysis: The 55-day SMA caps the upside… for now

EUR/USD comes under heavy pressure and breaches 1.0600.
Extra losses seem in place while below the 55-day SMA at 1.0713.

EUR/USD quickly fades the Wednesday’s uptick and returns to the sub-1.0600 region on Thursday.

While below the temporary up barrier at the 55-day SMA, today at 1.0713, the pair remains vulnerable to further losses. Against that, another visit to the February low at 1.0532 (February 27) should not be ruled out.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0327.

EUR/USD daily chart

Currencies. Daily history for Thursday, March 2, 2023

Commodities. Daily history for Wednesday, March 1, 2023

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