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6 Apr 2020
EUR/USD Price Analysis: Rising odds for a visit to 1.0635
- Rising selling bias puts the EUR/USD under extra pressure.
- Further decline could see the YTD low at 1.0635 revisited.
EUR/USD remains under pressure in the 1.0800 region at the beginning of the week, although the February low at 1.0777 appears to be holding well for the time being.
A breach of this area on a firm fashion is expected to open the door to a move to the 2020 low at 1.0635 ahead of the April 2017 low at 1.0569.
The selling pressure is expected to mitigate, initially, above the 200-day SMA (1.1068) ahead of recent tops in the mid-1.1100s.
EUR/USD daily chart
