EUR/USD Technical Analysis: The bull run is seen testing the 200-day SMA in the near term
|- The upside momentum in the pair remains well in place so far this week, extending the rebound from May’s lows to the 1.1340 region, where sits the 50% Fibo retracement of the 2019 drop.
- The recent break above the multi-monht resistance line in the 1.1270 region has mitigated the downside pressure, fuelling further the up move.
- That said, the door remains open for a visit to the critical 200-day SMA at 1.1364, regarded as the last defence for a test of the mid-1.1400s, March’s peaks.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.