- EUR / USD extends the sideways rally theme below 1.19 on Friday.
- Above 1.1900 appears the resistance of 1.1920, the maximum of November.
EUR / USD remains well immersed in a consolidation at the upper end of the weekly range, albeit always in the area below 1.1900.
In case the euro weakens, then there is room for the pair to initially return to last week’s lows around 1.1750 before the next support area at the 1.1700 area. On the opposite side, once it lags behind 1.1900, the spotlight is expected to turn to the monthly high at 1.1920 (Nov 9).
Looking at the bigger picture, additional gains are likely in the EUR / USD as long as they are above the key 200-day SMA, today at 1.1376.
EUR / USD day chart
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