- EUR / USD attempts a slight bounce to the 1.1740 area.
- The next key level to the upside appears at the 1.1800 hurdle.
EUR / USD puts further distance from Monday’s monthly lows reached at the 1.1700 zone.
Despite the current rebound, the short-term outlook for the pair remains fragile. If the raises pick up momentum, then the 1.1780 / 1.1800 band should emerge as the next major barrier. Here the 10-, 55-, and 20-day simple average coincides with a Fibonacci level (from the June-August dip).
If it loses the September low of 1.1700, the 2021 low of 1.1663 registered on August 20 would be exposed.
Meanwhile, the short-term outlook for EUR / USD looks on the downside, as long as the price remains below the key 200-day SMA, today at 1.1984.
EUR / USD day chart
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