- EUR / USD bounces off lows and recovers 1.1700 level
- The bounce could extend and revisit the 1.1780 area.
EUR / USD bounces to fresh 3-day highs, above the 1.1700 level, amid a general softer tone around the US dollar. The pair needs to break out of this region to allow the bullish momentum to continue.
Higher up expect a minor hurdle at the 55-day SMA, near 1.1780, ahead of the more important level at the October high of 1.1880.
Looking at the broader scenario, the bullish view for EUR / USD is expected to remain unchanged as long as it remains above the 200-day SMA, today at 1.1320.
EUR / USD daily chart
Credits: Forex Street
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