- The EUR / USD is looking to regain more traction beyond 1.2100.
- Exceeding 1.2200 should expose the 2021 highs.
The EUR/USD it advances for the second straight session and extends the rebound above 1.2100 on Friday.
Immediately to the upside the key resistance zone is lined up around 1.2180 / 90, where the 21-day SMA, a Fibonacci retracement of the November-January rally, and the weekly highs converge. A sustainable outperformance of this region is needed to allow a move to the 2021 highs near 1.2350 (Jan 6).
In the bigger picture, the constructive stance in EUR / USD remains unchanged while it is above the critical 200-day SMA, today at 1.1658.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
Daily chart
Technical levels
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