- EUR / USD bounced again from the 1.2100 region.
- There is a minor hurdle at the Fibonacci level at 1.2173.
Buyers appear to have regained strength on Monday and are pushing the EUR/USD above the 1.2100 barrier so far.
The additional gains need, initially, to overcome the minor hurdle at 1.2173, where a Fibonacci level from the November to January rally is located. Further north are last week’s highs beyond 1.2200 before May’s highs of 1.2260 / 70.
On the broader view, the constructive stance on the EUR / USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1988.
Daily chart
Technical levels
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