- EUR/USD rebounds after recent slide.
- Upside attempts need to break above 1.0874.
EUR/USD now looks somewhat in consolidation mode and is trying to put recent sessions in negative territory behind it.
It seems that the pair is entering a consolidation phase before the possible resumption of the uptrend. Above the year high at 1.0874 (Jan 16) the round 1.0900 level should appear on the relatively short term horizon.
Also, as long as it holds above the short-term support line near 1.0580, further upside should remain within the possibilities.
Longer-term, constructive view remains as long as it is above the 200 SMA at 1.0308.
EUR/USD day 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.
