- EUR / USD reverses initial optimism and returns to the 1.2140 region.
- Higher up is the high of January 6, 2021 at 1.2349.
The euro bulls have once again failed to push the EUR / USD above the 1.2180 / 90 region at the beginning of the week.
This resistance zone is also reinforced by the 21-day SMA, today at 1.2191. A break above this level should pave the way for a possible move towards the 2021 highs around 1.2350, reached on January 6.
In the bigger picture, the constructive stance in EUR / USD remains unchanged as long as it remains above the 200-day SMA, today at 1.1626.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
EUR / USD daily chart
EUR / USD technical levels
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