EUR/USD Price Analysis: Extra losses could revisit 1.0909

Market news

2 May 2023

EUR/USD Price Analysis: Extra losses could revisit 1.0909

EUR/USD extends the leg lower and retests the mid-1.0900s.
The weekly low near 1.0910 awaits in case losses pick up pace.

EUR/USD loses the grip and drops to multi-session lows near 1.0950 on turnaround Tuesday.

The continuation of the corrective retracement should not be ruled out in the very near term. That said, the next support of note emerges at the weekly low at 1.0909 (April 17) ahead of another weekly low at 1.0831 (April 10).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0420.

EUR/USD daily chart

Currencies. Daily history for Tuesday, May 2, 2023

Commodities. Daily history for Monday, May 1, 2023

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