Friday, October 28, 2022

EUR/USD Price Analysis: Next on the upside comes 1.0100


  • EUR/USD comes under renewed downside pressure well below parity.
  • The resumption of the bid bias targets the October top near 1.0100.

EUR/USD extends the corrective downside to the 0.9930/25 band on Friday.

In case bulls regain the upper hand, the surpass of the 1.0100 zone could spark a more serious recovery in the short-term horizon. That said, the immediate barrier is now expected at the September top at 1.0197 (September 12) ahead of the August peak at 1.0368 (August 10).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0502.

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