Will EUR/USD retouch parity ahead of the weekend?

The EUR/USD slides below the 1.0100 figure for the first time since July 27, as EUR sellers eye a daily close below 1.0096, which could pave the way for retesting the parity level.

At the time of writing, the EUR/USD is trading at 1.0089, well below its opening price, after reaching a daily high of 1.0184. Since the beginning of the week, the EUR/USD began its free fall, from around 1.0268, exacerbated by the release of important US economic data.

The FOMC minutes were among the reasons for the Euro’s initial weakness. Buyers, however, hold the fort around 1.0100 before giving way to EUR/USD sellers.

On Thursday, the pair broke below the July 27 daily low at 1.0096, positioning sellers before launching an assault towards parity. The Relative Strength Index (RSI) at 39.65, pointing downwards, provides enough chance for sellers before reaching oversold conditions. Therefore, the EUR/USD’s next support would be July’s 8 daily low at 1.0078.