EUR/USD Price Analysis: Next on the upside comes the June peak

Market news

8 June 2023

EUR/USD Price Analysis: Next on the upside comes the June peak

EUR/USD adds to the weekly rebound north of 1.0700
Further gains could challenge the June top around 1.0780.

EUR/USD gathers further steam and flirts with daily highs above 1.0730 on Thursday.

A more serious bullish attempt is expected to dispute the so far monthly high at 1.0779 (June 2). The selling pressure is seen mitigating somewhat once this level is cleared and could encourage the pair to test the round level at 1.0800 just ahead of the interim 100-day SMA, today at 1.0807.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0514.

EUR/USD daily chart

Currencies. Daily history for Thursday, June 8, 2023

Commodities. Daily history for Wednesday, June 7, 2023

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