EUR/USD Price Analysis: Further downside remains in the pipeline

Market news

26 October 2023

EUR/USD Price Analysis: Further downside remains in the pipeline

- EUR/USD drops for the third session in a row and retests 1.0520.

- Extra decline could see the pair accelerate losses to the 1.0500 zone.

EUR/USD maintains the offered bias and printed new lows in the 1.0520 region on Thursday.

If bears push harder, then the pair could drop to the weekly low of 1.0495 (October 13) prior to the 2023 low of 1.0448 (October 3). The loss of the later could put a probable visit to the round level of 1.0400 back on the radar in the not-so-distant future.

In the meantime, while below the 200-day SMA at 1.0813, the pair’s outlook should remain negative.

EUR/USD daily chart

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