EUR/USD Price Analysis: A drop to 1.0833 remains in store

Market news

18 August 2023

EUR/USD Price Analysis: A drop to 1.0833 remains in store

EUR/USD prints new lows near 1.0840 on Friday.
Further weakness could revisit the 1.0830 region.

EUR/USD maintains the multi-session bearish move well in place at the end of the week.

A deeper pullback now targets the July low of 1.0833 (July 6). The loss of this region leaves the pair vulnerable to a probable test of the critical 200-day SMA at 1.0790 in the short-term horizon.

In the meantime, the pair’s positive outlook remains unchanged while above the 200-day SMA.

EUR/USD daily chart

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