- EUR / USD finally breaks above 1.2200.
- The continuation of the rise puts 1.2243 on the radar.
EUR / USD extends the bounce from last week’s lows in the 1.2050 region and breaks above the 1.2200 area.
The current context allows the uptrend to continue, at least in the very short term, with the next hurdle at the February high at 1.2243. An overcoming of the latter should open the door to a probable visit to this year’s peaks around 1.2350.
Constructive stance on EUR / USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1955.
However, it is worth noting that the daily RSI has yet to confirm the recent highs, which could be indicative of a bearish divergence and thus a prelude to a corrective move in the near term.
EUR / USD day chart
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