EUR/USD Price Analysis: Next target emerges at 1.1150

Market news

7 August 2023

EUR/USD Price Analysis: Next target emerges at 1.1150

EUR/USD bounces off earlier lows near 1.0960.
Further recovery continues to target 1.1150.

EUR/USD trims earlier losses and now flirts once again with the key 1.1000 region on Monday.

Further gains in the pair should meet the next hurdle at the weekly peak of 1.1149 (July 27). If the pair breaks above this region, the selling pressure is expected to alleviate and open the door to a probable move to the 2023 top at 1.1275 (July 18).

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0748.

EUR/USD daily chart

AUD/USD: Decline could extend on a break below 0.6460/0.6410 – SocGen

Tactical USD upside for now – CIBC

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