- EUR / USD rises modestly towards 1.1950 on Thursday following Wednesday’s retracement.
- Higher up is the 200-day 1.2000 simple moving average.
The weekly rise of EUR/USD it sold out at the 1.1970 zone on Wednesday.
If the recovery builds up extra strength, then there is room to test the 200-day SMA, today at 1.1993 ahead of the 1.2000 psychological hurdle. There is, however, a minor hurdle at a Fibonacci level of 1.1976 (which was tested on Wednesday).
The outlook for EUR / USD should turn negative in the event of a sustainable decline below the 200-day SMA. The next few weeks are expected to be crucial regarding this issue.
EUR / USD day chart
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