EUR/USD Price Analysis: Rising Odds For A Move To 1.1500

EUR/USD remains under pressure in the mid-1.1500s. The outlook for the pair stays fragile and appears vulnerable.

EUR/USD extends the consolidative trade range for yet another session and always around the 1.1550 zone on Tuesday.

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Another visit to the 2021 low at 1.1529 remains well on the table in the near future amidst the ongoing bearish context. A deeper pullback from here should trigger a relatively quick test of the 1.1500 neighbourhood, where the March 2020 high sits.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1939.

EUR/USD daily chart

EUR/USD

 

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