EUR/USD Price Analysis: Recovery now targets 1.0640

EUR/USD reverses the initial pessimism and targets 1.0600.
Immediate up barrier emerges at the weekly high at 1.0641.

EUR/USD bounces off daily lows in the sub-1.0500 region on Monday.

If the rebound picks up extra pace, then the pair should initially target the round level at 1.0600 prior to the more relevant weekly high at 1.0641 (May 5).

Above the 3-month line near 1.0940, the selling pressure is expected to alleviate somewhat.

EUR/USD daily chart

May 9, 2022

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