- EUR / USD extends the bull run to a zone close to 1.1900.
- The 1.1980 / 90 band emerges as the next target of relevance.
The strong rally in EUR / USD is testing the key 200-day SMA at the 1.1880 region on Wednesday.
Buyers appear to have returned to the market, pushing the pair higher to the 200-day SMA. If the bullish momentum picks up, then the 1.1980 / 90 region should return to the radar. The mid-March peaks, the 50-day SMA and a Fibonacci level (from the November-January rally) converge in this area.
Above the 200-day SMA (1.1879), the outlook for EUR / USD is expected to turn positive.
EUR / USD day chart
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.