- EUR / USD adds to recent gains and surpasses 1.1950.
- Higher up is the 200-day 1.2000 SMA.
The weekly rise in EUR/USD faces a tough hurdle in the 1.1970 / 80 zone. Recent peaks and a Fibonacci level (from the November-January rally) converge in this area.
If the recovery picks up steam, then there is room for the spot to challenge the 200-day SMA, today at 1.1994 ahead of the 1.2000 psychological hurdle.
The outlook for the EUR / USD should turn negative on a break below the key 200-day SMA. The next few weeks are expected to be crucial regarding this issue.
Daily chart
Technical levels
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