EUR/USD Price Analysis: Below 1.0700 comes the March low

Market news

25 May 2023

EUR/USD Price Analysis: Below 1.0700 comes the March low

EUR/USD retreats to fresh monthly lows near 1.0715.
The loss of the 1.0700 region exposes a deeper decline.

EUR/USD maintains the bearish note well in place and revisits the vicinity of 1.0700, or monthly lows, on Thursday.

In the meantime, the ongoing bearish development could force the pair to extend the move to the March low of 1.0516 (March 15) in case the 1.0700 region is cleared in a sustainable fashion.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0477.

EUR/USD daily chart

Currencies. Daily history for Thursday, May 25, 2023

Commodities. Daily history for Wednesday, May 24, 2023

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