EUR/USD Price Analysis: Another test of 1.0765 remains in store

Market news

28 August 2023

EUR/USD Price Analysis: Another test of 1.0765 remains in store

EUR/USD reverses two consecutive sessions of losses.
The resumption of the selling pressure could see 1.0765 retested.

EUR/USD manages to regain some balance and reclaims the 1.0800 neighbourhood at the beginning of the week.

In case bears regain the upper hand, the pair could slip back to the August low of 1.0765 (August 25). South from here emerges the May low of 1.0635 (May 31) ahead of the 2023 low of 1.0481 (January 6).

A drop below the 200-day SMA, today at 1.0805, should keep extra pullbacks in store for the time being.

EUR/USD daily chart

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