- EUR / USD maintains range movement unchanged so far.
- Above 1.2190 the downward pressure is expected to ease.
EUR / USD remains consolidated for another day on Monday.
Late January highs around 1.2200 continue to limit the rise, while yearly lows around 1.1950 act as a decent support area for now.
A move above the weekly highs near 1.2190 (Jan 22) should ease the selling pressure somewhat and could open the door to a likely visit to the yearly highs to date at the 1.2350 area.
In the bigger picture, the constructive stance in EUR / USD remains unchanged as long as it remains above the 200-day SMA, today at 1.1725.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
EUR / USD daily chart
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