EUR/USD Price Analysis: Outlook remains bearish below the 200-day SMA

EUR/USD adds to Wednesday’s recovery attempt past 1.0500.
Immediate resistance emerges around 1.0620.

EUR/USD keeps the bid bias unchanged and adds to Wednesday’s advance north of 1.0500 the figure on Thursday.

The continuation of the rebound should initially retarget the minor barrier at 1.0617 (September 29) ahead of the weekly peak of 1.0767 (September 12).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0824.

EUR/USD daily chart

Oct 5, 2023

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