EUR/USD Price Analysis: Bulls need to clear the 1.0700 region

Market news

7 March 2023

EUR/USD Price Analysis: Bulls need to clear the 1.0700 region

EUR/USD comes under some selling pressure near 1.0650.
The pair’s bullish attempt falters once again ahead of 1.0700.

EUR/USD triggered a corrective knee-jerk following another attempt to test/surpass the 1.0700 neighbourhood on Tuesday.

The resumption of the buying interest should encourage the pair to challenge and leave behind the 1.0700 region as well as the provisional 55-day SMA (1.0716) to allow for a potential visit to the weekly top at 1.0804 (February 14).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0326.

EUR/USD daily chart

Currencies. Daily history for Tuesday, March 7, 2023

Commodities. Daily history for Monday, March 6, 2023

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