Following Wednesday's upsurge, EUR/USD turned south and registered large losses on Thursday.
EUR/USD stays under bearish pressure in the European session on Friday. The technical outlook suggests that there is more room on the downside before the pair turns oversold. The US Dollar could preserve its strength in case safe-haven flows dominate the action. Following Wednesday's upsurge, EUR/USD turned south and registered large losses on Thursday. The pair stays under pressure on Friday and trades at its lowest level since early May slightly below 1.0700.
0800, where the 100-day and the 200-day Simple Moving Averages are located. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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