By John Noonan — Aug 17 - 08:05 PM
EUR/USD opens just 10 pips lower after a relatively quiet session
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EUR/USD trend lower in place with 5, 10 & 21-day MAs in a bearish alignment
Only a break above the 10-day MA at 1.0929 would suggest a bottom is forming
Support is at daily lows at 1.0835/45 and the 200-day MA at 1.0791
EUR/USD has been above the 200-day MA all of 2023 and break would be bearish
EUR/USD likely to consolidate in Asia as the focus will be on regional currencies
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Source:
Refinitiv IFR Research/Market Commentary