EUR/USD Price Analysis: Parity at the end of the tunnel?

EUR/USD clinches new lows in the sub-1.0200 area.
The pair enters oversold territory and could spark a bounce.

EUR/USD loses further ground and drops to nearly 2-decade lows in the 1.0170 region on Monday.

The sell-off in the pair stays everything but abated midweek amidst an increasing negative outlook. Against that, there is a minor support level at 1.0060 (low December 11 2002). The breakdown of the latter should herald a visit to the key parity area.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1085.

EUR/USD daily chart

Jul 6, 2022

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The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers' Index (PMI) - also known as the ISM Services PMI – at