EUR/USD technical analysis: Bulls look to test 200 DMA and 200 WMAs

Ross J Burland FXStreet

EUR/USD is moving higher above the 2018-2019 downtrend following recent Fed dovish rhetoric and relatively poor US data.
For those that trade patterns, a falling wedge pattern targets towards 1.2000.
The 200 DMA and 200WMA are in sight and a break there will certainly convince cautious bulls and fearful bears to act accordingly.
Stop territory around 1.1450 could accelerate price towards 1.1520 prior structural support levels.
The 1.1570 2019 high is then under threat.
To the downside, the 20 WMA at 1.1270 and prior wedge resistance guards the 20 DMA that guards a run to the 1.1100 support.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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