EUR/USD Price Analysis: Remains under downside pressure below 1.0370/80

• EUR/USD comes under pressure once again near 1.0150.
• The 1.0370/80 band caps the upside for the time being.

EUR/USD returns to the lower end of the weekly range near 1.0150 and fades at the same time Tuesday’s shy advance.

While below the 1.0370/80 band, a region where the August high and the 6-month resistance line converge, the pair is expected to remain under downside pressure. That said, the lower end of the recent range in the 1.0100 zone should hold the downside ahead of a potential challenge of the psychological parity level.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0873.

EUR/USD daily chart