- EUR / USD’s rapid move over 1.2000 found resistance near 1.2080.
- The casualties are expected to be contained around 1.1910.
EUR / USD set new multi-week highs near 1.2080, but then deflated into negative territory.
The pair gained extra bullish momentum after breaking above the 1.2050 / 64 band, where the 100-day SMA and a Fibonacci retracement (from the November-January rally) converge.
Above the new peaks around 1.2080, the intermediate hurdle lies at 1.2100 before February highs around 1.2240.
Above the 200-day SMA (1.1910), the EUR / USD position is expected to remain positive.
EUR / USD day chart
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