The next upside target is at 1.1464

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  • The EUR / USD is trading within a volatile session around 1.1340.
  • The next target on the upside is at the weekly high at 1.1464.

The EUR/USD it cuts losses to the 1.1300 area and now manages to return to the 1.1340 area on Wednesday.

Should the recovery pick up more momentum, the pair is forecast to revisit the weekly high at 1.1464 (Nov 15). The breakout of this area is considered to point to the round level at 1.1500 ahead of the 55-day SMA, today at 1.1535.

The probability of further losses remains unchanged as long as the EUR / USD trades below the 2-month resistance line (far from September) near 1.1560. Longer term, the offered position of the pair is expected to persist as long as it is below the 200-day SMA at 1.1823.

Daily EUR / USD chart

Technical levels

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