- EUR / USD is looking to extend the bull run above the 1.1800 zone.
- Additional gains are likely to break above the 200 day SMA at 1.1875.
EUR / USD bullish momentum appears to have faltered around the 1.1820 / 25 band on Tuesday.
Despite the rebound seen at the beginning of the week, it appears that sellers are keeping control of the price action, leaving the pair vulnerable to another bearish move in the near term. However, a convincing breakout of 1.1875 could see gains accelerate to the next major hurdle at the 1.1980 / 90 band.
As long as it is below the 200-day SMA (1.1875), the short-term stance for EUR / USD is expected to remain negative.
EUR / USD day chart
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