EUR / USD is looking higher after defending the support of the 100-day SMA with a long-tailed green candle on Tuesday, evidence of declining demand.
Immediate resistance is seen at 1.2139 (50-day SMA), followed by the February 25 high of 1.2243.
A daily close below the 100-day SMA, currently at 1.2024, would invalidate the bullish outlook.
The pair defended the 100-day SMA in early February, after which stronger buying pressure appeared, lifting the pair from 1.20 to 1.2243.
EUR / USD daily chart
EUR / USD technical levels
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