EUR/USD Price Analysis: Further weakness could extend to 1.0516

Market news

15 September 2023

EUR/USD Price Analysis: Further weakness could extend to 1.0516

EUR/USD picks up some pace and revisits 1.0670.
The next support of note emerges at the March low at 1.0516.

EUR/USD reclaims the 1.0660/70 band after bottoming out in the 1.0630 region.

The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, further losses could see the March low of 1.0516 (March 15) revisited in the short-term horizon.

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0827.

EUR/USD daily chart

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