EUR/USD Price Analysis: Next on the upside aligns 1.1012

Market news

10 July 2023

EUR/USD Price Analysis: Next on the upside aligns 1.1012

EUR/USD comes under pressure and revisits the mid-1.0900s.
Above the monthly high comes the June top past 1.1000.

EUR/USD’s rebound finds some decent initial hurdle around 1.0970 so far at the beginning of the week.

Once the pair clears the July high at 1.0973 (July 7), it could then embark on a potential challenge of the June high at 1.1012 (June 22) prior to the 2023 peak at 1.1095 (April 26).

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0624.

EUR/USD daily chart

AUD/USD stretches downside to near 0.6630 as Fed gets reason to resume policy tightening

Risks tilted toward a generally softer USD in the near to medium term – Scotiabank

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