EUR/USD Price Analysis: Next on the upside comes 1.0640

Market news

23 October 2023

EUR/USD Price Analysis: Next on the upside comes 1.0640

EUR/USD climbs further and flirts with 1.0600 once again on Monday.
Further gains are expected to retest the 1.0640 zone in the near term.

EUR/USD maintains the bullish bias well in place and confronts once again the key hurdle around 1.0600 at the beginning of the week.

In case the recovery gathers a more serious pace, then the pair is expected to dispute the October high at 1.0639 (October 12) prior to a probable move to the transitory 55-day SMA at 1.0707.

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA at 1.0817.

EUR/USD daily chart

EUR/CHF: Risk of dips lower towards 0.93 in the weeks ahead – Rabobank

Building negative risks for the USD – Scotiabank

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