- EUR / USD recovers the area above the 1.1900 level.
- The next relevant target appears in the 1.1980 / 90 band.
EUR / USD reverses the initial pessimism and advances past the 1.1900 barrier at the beginning of the week.
The rebound from this year’s lows near 1.1700 remains healthy so far. A sustainable break above the 200-day SMA (1.1891) should open the door to further gains with the next target at the 1.1980 / 90 region. The mid-March peaks, the 50-day SMA and a Fibonacci retracement level (from the November-January rally) converge in this area. If this area is exceeded, a move could be made towards allows a move towards the key barrier of 1.2000.
Above the 200-day SMA (1.1891), the position of the EUR / USD is expected to turn positive.
EUR / USD day chart
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