- EUR/USD is meeting some sellers at the 1.0560 area.
- Further recovery should target the monthly high at 1.0641.
The EUR/USD trims part of the recent advance after reaching fresh weekly highs in the 1.0560/65 area on Wednesday.
Considering the ongoing price action, a continuation of the bounce looks likely at least in the short term. Against this, the next hurdle comes at the May high at 1.0641 (May 5) before the 55-day SMA today at 1.0809.
Below the 3-month line near 1.0880, the pair is expected to remain under pressure and vulnerable to further losses.
EUR/USD daily chart
Technical levels
Source: Fx Street
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