Home Forex Extra weakness could retest 1.0909

Extra weakness could retest 1.0909

by SuperiorInvest


  • EUR/USD is regaining its downtrend and approaching 1.0900.
  • Next support comes at the weekly low at 1.0909.

Sales dynamics around EUR/USD gathering further momentum, pulling the pair to new 3-week lows near 1.0920 on Thursday.

If the bears remain in check, EUR/USD could see a weekly low at 1.0909 (April 17) quickly retrace ahead of the provisional 55-day SMA at 1.0841, which is just ahead of another weekly low at 1.0831 ( April 10).

In the longer term, the constructive view remains unchanged while it is above the 200-day SMA, today at 1.0440.

EUR/USD daily chart

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