forex-analysis2.965 min read Euro Faces Support Levels and Drops to Three-Week Lows
The Euro has faced pressure and depreciated against major currencies, with EUR/USD approaching a zone of support at the 200-day SMA and 1.0831 level. The RSI suggests further bearish momentum, but a close below the 200 SMA could halt price declines. EUR/GBP attempts to halt a sell-off after a massive drop, with support at 0.8565. The pair remains vulnerable to the downside, but a pullback could reach 0.8635 resistance. Economic challenges in Europe are expected to worsen, with Q3 GDP contraction and stagnant growth in Germany. US services PMI and jobs data, including the NFP report, will provide market points to consider.
2 years ago•Source: DailyFX
