FX.co ★ Short-term technical analysis on EURUSD for February 13th, 2023.

Violet lines- Fibonacci retracement levels

EURUSD is trading around 1.0690. Last week price was under pressure but managed to bounce towards the 38% Fibonacci retracement. The bounce was shallow and price only reached close to 1.08. Price is now near last week's lows. EURUSD remains vulnerable to more downside but first we might see another bounce attempt towards 1.0710-1.0750. A break above 1.0755 will increase chances of a bigger bounce towards the 50% retracement at 1.0850. EURUSD remains vulnerable to a move towards 1.05.