Euro's Further Weakness Vs. Dollar not Ruled Out, Chart Shows
Dow Jones
6 hours ago
0324 GMT - Further euro weakness against the dollar isn't ruled out, based on daily charts, says Quek Ser Leang of UOB's Global Economics & Markets Research in a research report. The steep decline of the euro versus the dollar recently hasn't yet stabilized, though the daily relative strength index is now at its most oversold since March 2026, the senior technical strategist notes. "Deeply oversold conditions do not necessarily signal an imminent recovery," the strategist says. However, the pace of any further weakness may begin to moderate, and "it remains to be seen whether the next technical target at 1.1215 is within reach during this phase of weakness," the strategist adds. The euro is little changed at $1.1323, LSEG data show.
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