- EUR/USD meets resistance in the vicinity of 1.1770 so far.
- Next relevant target on the upside is at 1.1917 (September 10 high).
The buying interest in EUR/USD met initial resistance in the 1.1770 region – or multi-day highs - where it also converges the 55-day SMA.
Extra gains now need to surpass this area coupled with the immediate resistance line in the 1.1790 area to allow for a more sustainable recovery. If cleared, then the 1.1915/20 band (September 10) should re-emerge on the investors’ horizon.
Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1246.
EUR/USD daily chart
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