EUR/USD Price Analysis: Above 1.1030 comes the 2023 peak

Market news

11 July 2023

EUR/USD Price Analysis: Above 1.1030 comes the 2023 peak

EUR/USD fades the initial bull run to the 1.1030 region.
A potential test of the 2023 top emerges on the horizon.

EUR/USD retreats from earlier monthly tops north of the psychological 1.1000 mark on Tuesday.

The surpass of the July high at 1.1027 should put the pair en route to a challenge of the 2023 high at 1.1095 (April 26) just ahead of the round level at 1.1100.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0630.

EUR/USD daily chart

United States IBD/TIPP Economic Optimism (MoM) below expectations (45.3) in June: Actual (41.3)

There are still solid grounds to expect the USD to weaken a little further – Scotiabank

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