- EUR / USD remains sideways for another session.
- The 1.2200 level emerges as the next target to highlight.
EUR / USD adds to recent gains and faces the usual hurdle at the key area around 1.2150. This resistance zone is also reinforced by the 55-day SMA at 1.2146
Further up comes on recent highs around 1.2170, as well as a Fibo retracement (from the November-January rally) at 1.2173. If the bulls keep pushing, then the weekly high at 1.2189 (Jan 22) should return to the radar. Selling pressure should ease above the latter, opening the door for a likely visit to yearly highs in the 1.2350 zone.
In the bigger picture, the constructive stance of the EUR / USD remains unchanged while it is above the critical 200-day SMA, today at 1.1757.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
Daily chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
