EURUSD: Continuing to search for new bottoms!
The EUR/USD pair is recovering some lost ground below the 1.0800 level in early Asian trading on Tuesday. The pair's recovery is driven by the modest decline of the US dollar and lower US Treasury bond yields.
In the short term, there are expectations of an increase, but when looking at the longer-term trend, the weakness of this currency pair has not yet stopped. It has just surpassed the support level of 1.085 and still aims to find momentum around the 1.075 level. If that price level continues to be broken by the bearish side, EURUSD still has another opportunity at the 1.066 level as it is a significant support level that has helped EURUSD rebound strongly in the recent past. The currency market is fully priced in.
In the short term, there are expectations of an increase, but when looking at the longer-term trend, the weakness of this currency pair has not yet stopped. It has just surpassed the support level of 1.085 and still aims to find momentum around the 1.075 level. If that price level continues to be broken by the bearish side, EURUSD still has another opportunity at the 1.066 level as it is a significant support level that has helped EURUSD rebound strongly in the recent past. The currency market is fully priced in.
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