EUR/USD came under some fresh selling pressure on Wednesday. The near-term set-up remains tilted in favour of bearish trades, according to FXStreet’s analyst Haresh Menghani. Key quotes “It will be prudent to wait for a sustained weakness below the 1.0775-70 region before positioning for any further near-term depreciating move. “Below the 1.0775 support, the EUR/USD pair is likely to accelerate the fall towards challenging the 1.0700 round-figure mark before eventually dropping to test YTD lows, around the 1.0635 area.” “On the flip side, the 1.0900 round-figure mark might continue to act as an immediate resistance, above which a bout of a short-covering move has the potential to lift the pair further towards 50-day SMA, around the 1.0970-75 region.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD: Vulnerable to a correction – ANZ FX Street 2 years EUR/USD came under some fresh selling pressure on Wednesday. The near-term set-up remains tilted in favour of bearish trades, according to FXStreet’s analyst Haresh Menghani. Key quotes “It will be prudent to wait for a sustained weakness below the 1.0775-70 region before positioning for any further near-term depreciating move. “Below the 1.0775 support, the EUR/USD pair is likely to accelerate the fall towards challenging the 1.0700 round-figure mark before eventually dropping to test YTD lows, around the 1.0635 area.” “On the flip side, the 1.0900 round-figure mark might continue to act as an immediate resistance, above which a bout of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
