- The EUR / USD finally reverses the recent weakness and recovers 1.1350.
- Immediately to the upside comes the 10-day SMA (1.1454).
- EUR / USD manages to bounce off the new lows of Wednesday 2021 in the 1.1260 region.
The oversold conditions of the pair appear to have caused the pair to rebound to levels above the 1.1300 barrier. The continuation of the recovery could still have some legs with the next interim hurdle at the 10-day SMA at 1.1445 before the 20-day SMA at 1.1524. Higher up comes the weekly low at 1.1609 (November 9).
Meanwhile, additional losses remain on the cards as long as the pair trades below the immediate resistance line (away from the September high) just above 1.1600 today. Long-term, the negative outlook persists as long as it is below the 200-day SMA, today at 1.1861.
Daily EUR / USD chart
Technical levels
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