EUR/USD looks north, having defended the 100-day Simple Moving average (SMA) support on Tuesday with a green long-tailed candle – evidence of dip demand.
The immediate resistance is seen at 1.2139 (50-day SMA), followed by the Feb. 25 high of 1.2243.
A daily close below the 100-day SMA, currently at 1.2024, would invalidate the bullish outlook.
The pair defended the 100-day SMA in early February, following which stronger buying pressure emerged, lifting the pair from 1.20 to 1.2243.
Daily chart
Trend: Bullish
Technical levels
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