- EUR/USD corrects lower after hitting fresh monthly highs near 1.0790.
- Further advances are expected to recover the area above 1.0800.
He EUR/USD faces further downside pressure and gives back some of Thursday’s strong advance to near 1.0800.
A more serious bullish attempt is expected to quickly break past the monthly high hit so far at 1.0787 (Jun 8), closely followed by the 1.0800 round level, which looks supported by the transient 100-day SMA today at 1.0807.
Longer-term, constructive view remains above the 200-day SMA at 1.0518 today.
EUR/USD daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
