EUR/USD Price Analysis: Extra losses likely below the 200-day SMA

Market news

23 August 2023

EUR/USD Price Analysis: Extra losses likely below the 200-day SMA

EUR/USD faces extra selling pressure and puts 1.0800 to the test.
Immediately to the downside comes the 200-day SMA.

EUR/USD extends the weekly leg lower to the boundaries of the 1.0800 region on Wednesday.

Further losses are now expected to challenge the critical 200-day SMA at 1.0797 prior to the May low of 1.0635 (May 31).

A drop below the 200-day SMA should keep extra losses in store for the time being.

EUR/USD daily chart

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