- EUR / USD is in daily containment at the 1.1800 zone so far.
- Additional losses appear contained near 1.1790 for now.
The upward momentum of EUR/USD seems to have found a decent barrier at monthly highs in the region of 1.1880 (Oct 21).
The continuation of the sideways mood seems supported by the 55-day SMA and last week’s lows at the 1.1790 zone. A break out of this consolidation range in either direction is expected to risk a deeper pullback towards the 1.1700 area, while the resumption of the uptrend faces a key hurdle at 1.1880 initially.
Looking at the broader scenario, the EUR / USD bullish view is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1300.
Daily chart
Technical levels
.
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
