- EUR/USD manages to gain some traction and breaks through 1.0500.
- There is initial resistance around 1.0620.
He EUR/USD rebounds and puts aside two consecutive daily pullbacks and recovers the zone beyond 1.0500 on Wednesday.
Further gains should initially target the minor barrier of 1.0617 (September 29) again before the weekly high of 1.0767 (September 12).
Meanwhile, losses remain on the table, as long as the pair navigates the zone below the key 200-day SMA, today at 1.0825.
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.
