Closer to the 1.2000 level

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  • EUR / USD remains around the 1.19 zone.
  • Higher up is the psychological obstacle of 1.20.

EUR / USD has found some resistance at the 2-week high area near 1.1930 (April 8), prompting the instinctive pullback later.

The rebound from the yearly lows near 1.1700 appears to have the strength to advance in the very short term. A convincing breakout of the 200 day SMA at 1.1885 should open the door to further gains with the next target at the 1.1980 / 90 region. In this zone converge the highs of mid-March, the 50-day SMA and a Fibonacci level of the movement from November to January. An overcoming of this region would allow a move towards the key obstacle of 1.2000.

Above the 200-day SMA today at 1.1885, the EUR / USD position is expected to turn positive.

EUR / USD daily chart

EURUSD

EUR / USD technical levels

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