- EUR/USD appears to be consolidating the recent break of 1.0800.
- Above is the transient barrier of the 55-day SMA.
He EUR/USD adds to Friday’s bullish move and breaks above the 1.0800 barrier with some conviction.
Although initially supported by the 1.0760 area, occasional upside attempts could see the pair challenge the 55-day SMA provisional resistance zone at 1.0868 before the key psychological level of 1.1000.
However, further losses are not ruled out in the current context, although a sustained pullback to the March low of 1.0516 (March 15) is not favored at the moment.
Longer-term, constructive view remains above the 200-day SMA at 1.0468 today.
EUR/USD daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
