Last week, EUR/USD failed to close above 1.0320 and the 50-Day Moving Average, presenting a potential bull trap and setting up the opportunity for short sellers.
Although the pair broke below the parity on Aug. 22, a decent pullback is on the table as investors become uncomfortable with the unusual valuation of the pair. One only has to look back to Jul. 14 to witness the pullback in the EUR/USD after an intraday probing of the parity level.
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EUR/USD: How Long Will Parity Last?
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technician
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EUR/USD: How Long Will Parity Last?
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