- EUR / USD continues to move away from recent lows this year.
- The current bounce is now pointing to the 10-day SMA.
EUR / USD extends gains on Friday and is higher after breaking 1.1600 on Monday.
The technical rebound from oversold levels could take additional pace. Should the next provisional resistance materialize it is at the 10-day simple moving average at 1.1664 in the very short term. Beyond this area comes the 20-day simple moving average at 1.1728 ahead of the most significant hurdle at mid-1.1750. The latter is also supported by the 55-day average, today at 1.1767.
Meanwhile, the short-term outlook for the EUR / USD looks on the downside of remaining below the 200-day simple moving average, today at 1.1960.
EUR / USD day chart
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