- EUR / USD quickly outpaces Wednesday’s moderate decline.
- The focus is now on the recent highs around 1.2250.
EUR / USD resumes higher and regains the 1.2200 area after Wednesday’s pullback from four-month highs near 1.2250.
The bullish bias is still good and solid for now. In this context, a breakout of the 1.2250 region should allow a test of the 2021 peaks in the 1.2350 area (January 6 high).
The constructive stance of EUR / USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1960.
However, it is noteworthy that the daytime RSI has yet to confirm the recent spikes, which could be indicative of a bearish divergence and thus an anticipation of a possible bearish corrective move in the near term.
EUR / USD day chart
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