- EUR/USD falls for the seventh consecutive session and tests 0.9535.
- Below the 2022 low at 0.9535 is the 0.9500 zone.
EUR/USD extends leg lower to around 0.9530 on Wednesday, an area where it last traded in June 2002.
The odds of further European currency weakness remain so far with the immediate target at the 2022 low at 0.9552 (26 Sep). A deeper drop could challenge the 0.9500 round level, ahead of the weekly low of 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 moving average at 1.0667.
EUR/USD day chart
Source: Fx Street
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