- EUR/USD is under some selling pressure after highs near 0.9850.
- Further weakness could open the door to the 2022 low at 0.9535.
The EUR/USD partially tempers strong weekly bounce to multi-day highs near 0.9850 on Friday.
The odds of further weakness in the European currency remain so far with the immediate target at the 2022 low at 0.9535 (28 Sep). A deeper drop could challenge the round level at 0.9500 before the weekly low at 0.9411 (17 Jun 2002).
In the longer term, the bearish view on the pair should remain unchanged as long as it is below the 200-day SMA at 1.0653.
EUR/USD daily chart
Source: Fx Street
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