EUR/USD Price Analysis: Scope for further losses near term

EUR/USD bounces off fresh cycle lows near 0.9550.

Extra downside could revisit the 0.9411 level near term.

EUR/USD keeps the bearish note well in place and drops to new 2-decade lows near 0.9550, where some initial contention seems to have emerged.

Rising prospects for extra weakness in the European currency remain well on the table for the time being. That said, the loss of the 2022 low at 0.9552 (September 26) should leave the pair vulnerable to a challenge to the round level at 0.9500 prior to the weekly low at 0.9411 (June 17 2002).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0685.

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EUR/JPY Price Analysis: The 142.30 region emerges as the next target

EUR/JPY adds to Friday’s small gains below 140.00.

The next hurdle of note turns up at the 142.30 zone.

EUR/JPY alternates gains with losses around 139.00 after bottoming out in earlier lows near 138.70 on Monday.

Extra gains in the cross are now favoured once it clears the recent high at 140.74 (September 2). Beyond this level, another visit of the weekly top at 142.32 (July 21) should re-emerge on the horizon prior to the 2022 peak at 144.27 (June 28).

While above the 200-day SMA at 134.54, the prospects for the pair should remain constructive.

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