- EUR/USD manages to regain some composure and approaches 1.0580 again.
- Further losses could retest the yoy low near 1.0480.
He EUR/USD it recovers some buying interest and advances to the 1.0580/85 zone after two consecutive daily falls.
The continuation of the downtrend seems favored for the moment. Conversely, the pair could challenge the 2023 low at 1.0481 (Jan 6) once it breaks the March low at 1.0524 (March 8). Further losses are expected to retest the minor support at 1.0443 (weekly low Dec 7, 2022).
Longer-term, the constructive view remains as long as it holds above the 200-day SMA, today at 1.0324.
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.
