- 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