November 30, 2021

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EUR/USD stays pressured, eases to fresh lows since July last year

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EUR/USD falls to 1.1580, its lowest since July last year

EUR/USD D1 30-09
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Amid the focus on month-end and quarter-end, just be wary that the technicals may offer the most clarity when it comes to trading sentiment today.

And that doesn’t come clearer than the EUR/USD chart, which continues to reaffirm a further break to the downside as sellers look to hold a push below 1.1600 as price moves to its lowest levels since July last year.

In turn, this is likely to keep the dollar somewhat supported so just be mindful of the situation here when viewing dollar pairs elsewhere too.

The break lower now draws the focus on key support from the weekly chart:

EUR/USD W1 30-09

The 200-week moving average (blue line) is seen @ 1.1572 and a firm break there leaves little in the way of an extended push towards 1.1500 next with the potential for a steeper drop if we do see other dollar pairs (looking at you, USD/JPY) corroborate as well.




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