EUR/USD Price Analysis: Immediately to the upside comes 1.1120
|- EUR/USD looks volatile around 1.10 following Thursday’s decline.
- There is an initial up barrier at the weekly high at 1.1121 (March 10).
EUR/USD manages to regain some composure following Thursday’s decline despite reaching fresh highs past the 1.1100 yardstick.
For the recovery to gather more serious intentions, EUR/USD needs to clear the weekly peak at 1.1121 (March 10) to allow for a test of the interim barrier at the 20-day SMA at 1.1168 ahead of the monthly high at 1.1233 (March 1).
The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1559.
EUR/USD daily chart
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