EUR/USD Price Analysis: Gains remain limited by 1.1670

  • EUR/USD looks to leave behind the recent couple of pullbacks.
  • The next target of note emerges around 1.1670.

EUR/USD wobbles around the 1.1600 mark after two consecutive daily drops on Wednesday.

In the meantime, the inability of the pair to retest recent tops around 1.1670 ideally in the short-term horizon could trigger some corrective move to, initially, the weekly low at 1.1590 (October 25). A drop beyond this level is seen exposing another weekly low near 1.1570 (October 18), all prior to the 2021 low at 1.1524 (October 12).

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1909.

EUR/USD daily chart

Our Source

Please Like and Share:

Leave a Reply

Your email address will not be published.