- EUR/USD retraces part of Thursday’s advance and holds around 1.0220.
- The pair needs to break above 1.0300 to allow for a more serious recovery.
EUR/USD is under pressure after teetering once again in the 1.0250/60 zone at the end of the week.
The August high at 1.0293 (Aug 2) looks like the magnet for the bulls at the moment. Above this level, the pair is expected to see its uptrend strengthened and could challenge the short-term 55-Day Temporary SMA today at 1.0404.
In the longer term, the bearish view on the pair is expected to prevail as long as it trades below the 200-day SMA at 1.0927.
Source: Fx Street
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