Home EUR/USD Price Analysis: Stance is negative and targets 1.0730

EUR/USD Price Analysis: Stance is negative and targets 1.0730

Updated: 7 May. 2020 | 12:02

EUR/USD remains unable to gather serious upside traction around 1.08.
Immediately to the downside emerges the April’s low at 1.0727.

EUR/USD trades on a rangebound theme in the lower end of the weekly range near 1.0800 following three consecutive daily pullbacks.

The persistent weakness has now opened the door to a potential move to the April’s low in the 1.0730/25 band in the short-term horizon.

A move to the so far 2020 lows at 1.0635 should not be surprising in the next weeks.

EUR/USD daily chart

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