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EUR/USD eyes key downside break as momentum looks to build

It's been a rough one for EUR/USD this week after having seen the poor euro area PMI data readings and then the ugly reversal in risk sentiment yesterday - which led to a bid in the dollar. The pair is now tracking below 1.0800 and more importantly, eyes a break of the 200-day moving average (blue line) at 1.0802 on the day.If sellers can keep this up, a firm break below the key level would turn the pair more bearish with the attention then turning to the May low at 1.0635 next.The odds of a ECB... Read More

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Posted: Aug 25 2023, 08:12

Author Name: forexlive

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