EUR/USD Price Analysis: Another test of 1.1000 looms closer

Market news

25 July 2023

EUR/USD Price Analysis: Another test of 1.1000 looms closer

EUR/USD remains under pressure and drops to 1.1025.
Further losses could see the 1.1000 key level revisited.

EUR/USD remains well offered and navigates the lower end of the weekly range near the 1.1020 zone on Tuesday.

In light of the recent price action, further losses area expected to accelerate and could motivate the pair to revisit the psychological support at 1.1000 the figure. The loss of the latter exposes a deeper correction to the interim 55-day and 100-day SMAs at 1.0899 and 1.0889, respectively.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0699.

EUR/USD daily chart

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