- EUR/USD rally lower on Tuesday.
- A more sustained decline is expected once 1.0912 is broken.
He EUR/USD extends bearish bias towards fresh weekly lows near 1.0930 on Tuesday.
Should losses accelerate, spot should face intermediate containment at the 55-day and 100-day SMAs at 1.0925 and 1.0923, respectively, ahead of the August low so far at 1.0912 (August 3). Once the latter is convincingly broken above, the pair could embark on a move towards the July low at 1.0833 (July 6).
Meanwhile, below the weekly high of 1.1149 (July 27), the pair is at risk of falling further.
Longer-term, positive view remains above the 200-day SMA at 1.0748 today.
EUR/USD daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
