- EUR / USD extends the slide well below the 1.18 level.
- Prospects for a deeper pullback to 1.17 continue to rise.
EUR / USD is moving through the multi-day lows, in the 1.1740 region, due to investors’ preference for safe haven assets, such as the USD, in the current context of risk aversion.
A continuation of this trend appears likely in the very short term, allowing for a potential visit to the key support zone near the 1.1700 level before targeting monthly lows in the 1.1690 / 85 region (October 15).
Lower is the September low near 1.1610, although such a move would initially require a further deterioration of the outlook, either on the euro or on the fundamentals of the region.
EUR / USD daily chart
Credits: Forex Street
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