EUR/USD Price Analysis: Next on the upside appears 1.1150

Market news

10 August 2023

EUR/USD Price Analysis: Next on the upside appears 1.1150

EUR/USD adds to Wednesday’s gains north of 1.1000.
The continuation of the uptrend should target 1.1150.

EUR/USD picks up further pace and surpasses the key barrier at 1.1000 the figure on Thursday.

Further gains now need to quickly clear the August high at 1.1064 (August 10) to allow for a rapid challenge of the weekly peak at 1.1149 (July 27). Once the latter is cleared, the pair’s downside pressure is expected to mitigate.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0766.

EUR/USD daily chart

China: Recovery remains to be seen – UOB

Higher energy prices would likely be a EUR negative factor – Rabobank

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