EUR/USD Technical Analysis: The 200-day SMA near 1.1370 still caps the upside
- EUR/USD is reversing Tuesday’s negative price action although it manages well to keep business above the critical 1.1300 the figure for the time being.
- Downside pressure now appears mitigated following the recent breakout of the multi-month resistance line near 1.1280 and a probable visit to the key 200-day SMA at 1.1365 now looks likely in the short-term horizon.
- When and if this area of resistance is cleared, a potential move to March’s peaks in the mid-1.1400s should return to the radar.

Author

Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.


















