- EUR/USD presses weekly highs around 1.1080.
- The provisional barrier comes at the 20-day SMA at 1.1094.
The EUR/USD accelerates further and advances to multi-day highs in the 1.1070/80 area on Thursday.
As long as the bulls remain in control, then the pair could attempt a temporary hurdle test at the 20-day SMA today at 1.1094. Above that comes the most relevant weekly high at 1.1121 (March 10) before the intermediate hurdle at the 55-day SMA at 1.1251. Selling pressure is relieved once the pair breaks above the 6-month resistance line, today near 1.1280.
However, an overall negative outlook for EUR/USD remains unchanged as long as it remains below the key 200-day SMA today at 1.1535.
EUR/USD daily chart
Additional technical levels
Source: Fx Street
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