EUR/USD Price Analysis: Door open to a potential drop to 1.0840

Market news

29 June 2023

EUR/USD Price Analysis: Door open to a potential drop to 1.0840

EUR/USD accelerates the decline and revisits the 1.0860 region.
Next on the downside emerges the weekly low near 1.0840.

EUR/USD weakens further and slips back to the 1.0860 region, or weekly lows, on Thursday.

The recent bullish move now looks dented and the pair could be headed towards another visit to the weekly low at 1.0844 (June 23). The loss of this level exposes a potential pullback to the interim 100-day SMA, today at 1.0815.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0583.

EUR/USD daily chart

Currencies. Daily history for Thursday, June 29, 2023

Commodities. Daily history for Wednesday, June 28, 2023

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