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Jul 06 - 04:55 AM

EUR/USD's Biggest One-Day Drop Since March 2020: Chart Darkens

By Martin Miller  —  Jul 06 - 03:10 AM
  • EUR/USD is trading at levels not seen since December 2002, outlook negative

  • Spot registered the biggest one-day drop since March 2020 on Tuesday

  • It closed down 163 pips to close under 2022 1.0349, 2017 1.0340 (EBS) lows

  • We are looking to get short at 1.0320 in anticipation for a bigger fall

  • 14-week momentum is negative, highlighting the underlying bearish market

  • Parity beckons for this currency pair in the days and weeks ahead

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YL19U

Source:
Refinitiv IFR Research/Market Commentary

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