- EUR / USD bounces away from lows near the 1.1720 region on Wednesday.
- The next key area in dispute arises in the neighborhood of 1.1700.
After a dip to multi-day lows at the 1.1720 / 15 zone earlier in the session, the EUR/USD it has managed to return to positive territory near 1.1770 at the time of writing this Wednesday.
Despite the current rebound, further pullbacks are still expected and the 1.1700 area could be retested on the near term horizon. In this zone it converges with a Fibonacci level and the immediate short-term support line. A move towards the September lows near 1.1600 is out of the question for now.
Looking at the broader scenario, the EUR / USD bullish view is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1273.
Daily chart
Credits: Forex Street
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.
