The bounce points to the 1.2150 level

EUR / USD bounces from lows near 1.1980 on Wednesday.
The Fibonacci level at 1.1976 reinforces this initial support area.

The EUR / USD pair manages to find new buying interest and recovers above the 1.2000 level during the second half of the week.

The continuation of the move may find support at a Fibonacci retracement of the November-January move at 1.2064, while it may point higher towards the April 29 high of 1.2150.

Below the 200 day SMA today at 1.1942, the EUR / USD outlook will turn negative.

EUR / USD daily chart

EUR / USD technical levels

Donald Westbrook

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.

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The bounce points to the 1.2150 level

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