- EUR/USD is under heavy pressure and falls near 0.9940.
- The loss of 0.9900 could accelerate losses to the low of the year at 0.9863.
The EUR/USD reverses two consecutive daily gains and falls well below parity level on Friday.
The pair’s sudden drop now leaves the door open for further weakness on the short-term horizon. Conversely, a convincing break of the 0.9900 level carries the potential to revisit the 20-year low at 0.9863 (Sep 6).
In the long term, the bearish view of the pair is expected to prevail as long as it trades below the 200-day SMA at 1.0728.
EUR/USD daily chart
Technical levels
Source: Fx Street
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