EUR/USD Price Analysis: Rising bets for a drop to 1.1500

  • EUR/USD stays depressed and near the YTD low.
  • Further south should emerge the 1.1500 region.

EUR/USD trades at shouting distance from the 2021 lows near 1.1520 at the end of the week.

The bearish note surrounding the pair almost calls for another visit to the 2021 low at 1.1524 (October 12) in the very near term. A breakdown of this level should expose a test of the 1.1500 zone, where the March 2020 high sits (1.1495) ahead of the June 2020 high at 1.1422.

In the meantime, further losses are likely while below the 5-month resistance line, today near 1.1680.

EUR/USD daily chart

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