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Further advances need to clear 1.0640

October 20, 2023| Forex Market


  • EUR/USD trades without direction below the 1.0600 barrier.
  • Further gains appear in store above the 1.0640 region.

EUR/USD trades without a clear direction below the key 1.0600 hurdle on Friday.

In case the recovery gathers a more serious pace, the pair is expected to initially challenge the October high at 1.0639 (October 12). The surpass of this region should expose a potential move to the transitory 55-day SMA at 1.0721 ahead of weekly peaks at 1.0736 (September 20) and 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 at 1.0818.

EUR/USD daily chart


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