Daily Commentary

EUR/USD

23/09/19 21:46  AEST

This pair has been posing a downtrend, falling since the end of June from the high of 1.14 to 1.10 yesterday. It is expected to further depreciate towards the 1.084 region, which was the historically tested long-term support level. From the fundamentals side, both market pessimism towards the Eurozone economy and the re-introduction of QE program are expected to drive the price down in the short-to-medium term.