EUR/USD Price Analysis: Recovery targets 1.0700

Market news

27 October 2023

EUR/USD Price Analysis: Recovery targets 1.0700

- EUR/USD manages to regain upside traction on Friday.

- Further gains could revisit the 1.0700 region sooner rather than later.

EUR/USD leaves behind part of the recent three-day negative streak and approaches the 1.0700 zone.

In case bulls keep pushing, the pair should meet the next hurdle at the round level of 1.0700 prior rot the weekly peaks of 1.0736 (September 20) and 1.0767 (September 12).

In the meantime, while below the 200-day SMA at 1.0812, the pair’s outlook should remain negative.

EUR/USD daily chart

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