- EUR/USD manages to bounce off recent lows near 1.0700.
- The next contention appears in the 1.0630 area.
He EUR/USD recovers some of the ground lost in Tuesday’s sell-off and recovers to the 1.0740 area on Wednesday.
Despite the ongoing bounce, the pair remains under pressure and the door remains open for further losses on the near-term horizon. Conversely, the loss of the 1.0700 support is expected to encourage the pair to challenge the May low of 1.0635 (May 31) in the not too distant future.
Meanwhile, further losses are expected below the 200-day SMA, today at 1.0820.
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.
