Euro / U.S. DollarShort
EUR/USD aiming to test below parity again?
EUR/USD has broken consolidation range support near the 1.01 figure after a rebound from July lows faltered near the 1.04 handle. This is where a downward-sloping trend line from February 2022 is bolstered by a former support zone dating to mid-May, now recast as resistance.
The breakdown seems to set the stage for another test below the parity threshold, eyeing support in the 0.9950-96 area.
Neutralizing near-term selling pressure seems to demand a convincing return to 1.02. A broader bullish reversal with follow-through potential probably demands reclaiming a foothold above 1.04.
The breakdown seems to set the stage for another test below the parity threshold, eyeing support in the 0.9950-96 area.
Neutralizing near-term selling pressure seems to demand a convincing return to 1.02. A broader bullish reversal with follow-through potential probably demands reclaiming a foothold above 1.04.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.