Another visit to the 1.0630 region is not ruled out

By Forex Uy tín On Th9 18, 2023

EUR/USD gathers upside traction and advances to 1.0680.
The resumption of the selling pressure could retest 1.0630.

EUR/USD extends Friday’s recovery and hovers around the 1.0680 region on Monday.

Despite the so far two-day bounce, the pair’s underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, further losses could see the September low at 1.0631 (September 14) revisited ahead of the March low of 1.0516 (March 15).

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0827.

EURUSD daily chart

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