EUR/USD pushes lower toward parity, next bearish target seen at 0.9950

EUR/USD has started the new week under bearish pressure. The pair looks to test parity as markets remain risk-averse, FXStreet’s Eren Sengezer reports.

Risk perception could drive the pair’s action
“Unless there’s an improvement in risk sentiment, the greenback should be able to continue to outperform its risk-sensitive rivals.”

“In case the the all-important parity support level fails, the next bearish target could be seen at 0.9950 (multi-year low set on July 14) and 0.9900 (psychological level).”

“1.0050 (static level) aligns as initial resistance before 1.0100 (static level, psychological level, 20-period SMA on the four-hour chart and 1.0170 (200-period SMA).”