EUR/USD’s upside momentum faltered in the mid-1.1100s. The constructive view stays unchanged above the 200-day SMA, NDDFX’s analyst Pablo Piovano informs.
“A sustainable breakout of the 200-day SMA, today at 1.1081, should open the door to the continuation of the upside momentum to, initially, the December’s 2019 high at 1.1239.”
“Further north, EUR/USD is expected to face interim hurdles at Fibo retracements at 1.1311 and 1.1448, all ahead of the 2020 high in levels just shy of 1.15 the figure.”
“In case sellers regain control, a move to the 55-day SMA at 1.1008 should return to the investors’ radar ahead of a potential visit to January’s low in the 1.0990 zone.”