EUR/USD has experienced a deeper pullback after confirming a double top, BBH’s FX analysts note.
Potential supports are located at June low of 1.0665 and 1.0600
“EUR/USD has dipped below the 200-DMA (1.0870) and the trend line drawn since October 2023 denoting prevalence of downward momentum.”
“The decline is a bit stretched but signals of rebound are not yet visible. Inability to reclaim the MA at 1.0870 could lead to persistence in down move. Next potential supports are located at June low of 1.0665 and 1.0600.”
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