EUR/USD falls from highs to new daily lows near 1.0600.
Despite reaching its highest level, the EUR/USD failed to break out of its current range. The pair reached a high of 1.0675 before falling back.
It is trading at daily lows of less than 1.0620.
The brief rally to 1.0675 corresponded with the US dollar’s overall bottoming.
The EUR/USD was rejected from the 1.0660/70 region once more, and it reversed. It is now approaching 1.0600.
A break lower would reveal the current range’s lower limit at 1.0580.
A consolidation below would indicate a deeper correction, with the next level of support around 1.0530.
|
Daily SMA20 |
1.0569 |
|
Daily SMA50 |
1.0296 |
|
Daily SMA100 |
1.0115 |
|
Daily SMA200 |
1.033 |
