EUR/USD Price Analysis: Decent support emerges around 1.0700

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  • EUR/USD attempts a bounce to the 1.0750 region on Friday.
  • The resumption of the selling bias could challenge 1.0700 once again.

EUR/USD remains under pressure despite the ongoing bounce off recent multi-week lows in the proximity of the 1.0700 neighbourhood.

The loss of the so far decent contention area around 1.0700 could force the pair to extend the bearish move to the March low of 1.0516 (March 15), just ahead of the 2023 low of 1.0481 (January 6).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0481.

EUR/USD daily chart