EUR's steady downward trend
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EUR/USD dropped to a fresh 2023-low near 1.0450 on Tuesday before staging a modest rebound. After the data from the US showed that the number of job openings rose unexpectedly in August, the US Dollar extended its rally and caused the pair to turn south in the American session.
The EUR/USD pair's daily chart reveals its proximity to the multi-month low reached earlier today, indicating a lack of signs of downward exhaustion. The 20 Simple Moving Average (SMA) continues to exhibit strong bearish momentum, currently positioned around 1.0636, while the longer moving averages gradually decline above the 1.0800 level. In the meantime, technical indicators consolidate near oversold levels, lacking clear directional strength.
The EUR/USD pair's daily chart reveals its proximity to the multi-month low reached earlier today, indicating a lack of signs of downward exhaustion. The 20 Simple Moving Average (SMA) continues to exhibit strong bearish momentum, currently positioned around 1.0636, while the longer moving averages gradually decline above the 1.0800 level. In the meantime, technical indicators consolidate near oversold levels, lacking clear directional strength.
Nota
EUR increased slightly this morningNota
EUR is moving right according to our analysisNota
+ 70 pips nice
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