Home Forex trading Rising bets for a drop to parity

Rising bets for a drop to parity

40
0


  • EUR/USD’s price action remains depressed on Friday.
  • Further weakness could test the parity zone soon-ish.

EUR/USD drops and rebounds from fresh cycle lows around 1.0070 on Friday.

The pair’s bearish stance stays everything but abated for the time being. Against that, there is a minor support level at 1.0060 (low December 11 2002). The loss of this level could lead up to a visit to parity for the first time since December 2002.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1071.

EUR/USD daily chart

 



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here