- The EUR / USD trades at a fair near 1.1600.
- The next relevance target appears around 1.1670.
EUR / USD falters around 1.1600 and widens the weekly consolidation range again on Thursday.
Meanwhile, the pair’s inability to retest the recent peaks around 1.1670 ideally on the short-term horizon could trigger some corrective move to initially the weekly low at 1.1590 (Oct 25 low). The breakout of the monthly highs, on the other hand, should allow a possible move towards 1.1700, coinciding with the 55-day SMA and the short-term resistance line.
Meanwhile, the short-term outlook for the EUR / USD looks on the downside of continuing below the key 200-day SMA today at 1.1906.
EUR / USD day chart
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