EUR/USD Price Analysis: Temporary contention emerges near 1.0880

Market news

28 June 2023

EUR/USD Price Analysis: Temporary contention emerges near 1.0880

EUR/USD fades part of the recent optimism and retests 1.0920.
Next on the downside comes the 55-day SMA around 1.0880.

EUR/USD gives away some of the recent 2-day gains and slips back to the 1.0925/20 band on Wednesday.

In case the selling pressure gathers extra impulse, the pair could see the 55-day SMA, today at 1.0883, revisited in the near term. Below the latter, the weekly low at 1.0844 (June 23) could become the next support to watch for.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0578.

EUR/USD daily chart

Currencies. Daily history for Wednesday, June 28, 2023

Commodities. Daily history for Tuesday, June 27, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.