- June 21, 2021
- Posted by: Analysis Team
- Category: Forex News
- EUR/USD rebounds from lows in the mid-1.1800s on Monday.
- Further upside impulse could see the 200-day SMA re-visited.
EUR/USD manages to regain some composure following earlier lows in the 1.1850/45 band at the beginning of the week.
If the recovery gathers extra steam, then the door could open to a potential re-visit of the 200-day SMA at 1.1992. There is, however, a minor hurdle at a Fibo level at 1.1976.
The outlook for EUR/USD should shift to negative on a sustainable breakdown of the key 200-day SMA. Next weeks are expected to be crucial regarding this issue.
EUR/USD DAILY CHART