- EUR / USD resumes rally after Wednesday’s slide.
- The 1.1980 / 90 zone emerges as the next important target.
Recovery in EUR/USD it remains good and solid despite Wednesday’s small pullback and retracement from fresh 2-week highs above 1.1900.
Buyers seem to be in control of the market so far. A decisive breakout of the 200-day SMA at the 1.1880 area should open the door to further gains in the very near term with the next target at the 1.1980 / 90 region. The mid-March peaks, the 50-day SMA and a Fibonacci level (from the November-January rally) converge in this area.
Above the 200-day SMA (1.1882), the position of the EUR / USD is expected to turn positive.
Daily chart
Technical levels
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