EUR/USD Price Analysis: Corrective decline could retest the 100-day SMA

Market news

24 March 2023

EUR/USD Price Analysis: Corrective decline could retest the 100-day SMA

EUR/USD adds to Thursday’s decline and approaches 1.0700.
A deeper drop could revisit the 100-day SMA near 1.0615.

EUR/USD accelerates losses and sinks well south of 1.0800 the figure at the end of the week.

The corrective move could extend further in the near term and could put the 100-day SMA around 1.0615 back on the traders’ radar. Below the latter emerges the March low at 1.0516 (March 15).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0332.

EUR/USD daily chart

Currencies. Daily history for Friday, March 24, 2023

Commodities. Daily history for Thursday, March 23, 2023

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