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EUR/USD slips as 200-day SMA caps euro amid US-Iran tensions

EUR/USD was last at 1.1590, down 0.25%, with the pair hovering below the 200-day SMA at 1.1633 as investors lean toward the dollar.

Reported · Written up by our desk · Major Pairs

EUR/USD edged lower as the euro was capped by the 200-day Simple Moving Average at 1.1633, with investors seeking the US dollar amid rising geopolitical tensions tied to the US and Iran, FXStreet reports.

At the time of writing, the pair traded at 1.1590, down 0.25%, moving back below the 200-day level toward the 100-day SMA around 1.1569, which the analysis flags as the first support area.

The outlook for further weakness hinges on whether EUR/USD can clear the 100-day SMA, which would open the door to the August 13 swing low at 1.1511, followed by the 50-day SMA at 1.1494.

On the upside, the analysis says buyers would need to push EUR/USD back above the 200-day SMA, with a decisive breakout aimed at levels near 1.1700 and potentially the May 6 high at 1.1796.

Latest closeEUR/USD 1.160 ▼0.2%

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