EUR/USD Price Analysis: Immediate upside comes to 1.0640

Published On: October 16, 2023
  • EUR/USD reverses two daily drops in a row and revisits 1.0550.

  • The surpass of 1.0600 should open the door to extra gains.

EUR/USD separated two consecutive daily pullbacks and retested the 1.0500 mid-range earlier in the week.

In terms of maintaining bullish control, the pair should retarget the 1.0600 barrier before the weekly high of 1.0639 (October 12).

Meanwhile, further losses are on the table until the pair navigates below the key 200-day SMA, at 1.0822 today.

EUR/USD daily chart

EUR/USD

EUR/USD tABLE

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