EURUSD Price Analysis: The weekly low close to 0.9700 comes next three November 2022, 15:59

•EURUSD corrects in addition down and revisits 0.9730 on Thursday.
•Extra weak spot may want to see the 0.9700 area revisited close to time period.

EURUSD breaches the 0.9800 guide and prints new 2-week lows across the 0.9730 stage on Thursday.

Considering the continued charge action, in addition drawback need to now no longer be dominated out withinside the brief time period. Against that, the pair may want to slip lower back to the weekly low at 0.9704 (October 21) previous to the month-to-month low at 0.9631 (October 13).

Further losses continue to be at the playing cards withinside the close to time period at the same time as EURUSD navigates underneath the 9-month resistance line, nowadays close to 0.9880.

In the longer run, the pair’s bearish view need to continue to be unaltered at the same time as underneath the 200-day SMA at 1.0474.

EURUSD each day chart