EUR/USD PRICE ANALYSIS: NEXT ON THE UPSIDE ALIGNS THE 200-DAY SMA

  • EUR/USD adds to recent gains and surpasses 1.1950.
  • Further up is located the 200-day SMA and the 1.2000 mark.

The weekly upside in EUR/USD faces a tough hurdle in the 1.1970/80 band. In this area converge recent peaks and a Fibo level (of the November-January rally).

If the recovery gathers extra steam, then there is room for spot to challenge the 200-day SMA, today at 1.1994 ahead of the psychological 1.2000 hurdle.

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.

EURUSD DAILY CHART



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