Monday, June 5, 2023
HomeUncategorizedEUR/USD Price Analysis: A fall to parity is imminent

EUR/USD Price Analysis: A fall to parity is imminent

  • EUR/USD extended losses to the 1.0050/45 range.
  • The next downside is the potential test of the parity area.

EUR/USD exacerbated the recent weakness, eventually extending a breakout of the 1.0100 level Further losses were seen at on the card, and could hit parity levels in the near term. Loss of this key support area could lead to a further retracement to the year-to-date low of 0.9952 (14 July).

In the long run, a bearish view of the pair is expected to prevail as long as it trades below the 200-day SMA at 1.0859.

EUR/USD daily chart

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