EUR/USD Price Analysis: Further weakness not ruled out

Noticias del mercado

26 julio 2023

EUR/USD Price Analysis: Further weakness not ruled out

EUR/USD manages to bounce off recent lows around 1.1020.
A test of 1.1000 still appears in the pipeline in the near term.

EUR/USD stages a decent rebound after bottoming out around 1.1020 in the previous session on Wednesday.

Considering the recent price action, extra weakness should not be discarded and could motivate the pair to revisit the psychological support at 1.1000 the figure. The loss of the latter exposes a deeper correction to the interim 55-day and 100-day SMAs at 1.0901 and 1.0895, respectively.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0706.

EUR/USD daily chart

United States New Home Sales (MoM) registered at 0.697M, below expectations (0.725M) in June

The Dollar will have to wait and see – Commerzbank

Enfoque del mercado

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