- EUR / USD bounces from yearly lows in the 1.2050 / 55 band.
- The recovery points to the Fibonacci level around 1.2170.
EUR / USD rallied to 1.2100 and beyond on Tuesday, rebounding from the 2021 lows area at the 1.2050 zone.
If the recovery picks up steam, then the next intermediate hurdle comes in the Fibonacci retracement (from the November-January rally) at 1.2173. Higher up, there are no relevant levels until the peak of the year high at the 1.2350 zone.
In the bigger picture, the constructive stance against the EUR / USD will remain unchanged while it is above the critical 200-day SMA, today at 1.1608.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 trend line is a bullish development and should support the continuation of the current long-term trend.
EUR / USD day chart
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