- EUR / USD finds weekly resistance at the 1.2200 area.
- Additional gains are seen above the mid-1.2200 in the short term.
The EUR / USD bounce appears to have hit a decent hurdle in the 1.2200 neighborhood so far this week.
A move above the latter should expose the short-term resistance line (outside the March lows) around 1.2250. This area also coincides with the monthly peaks (June 1). Above this region, the pair should resume the bullish bias and aims for the May high at 1.2266 (May 25) ahead of 1.2300 the figure.
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 1.1983.
EUR / USD day chart
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