Pair could test 200-week sma

4 April, 2019

The squeeze higher in the pair still has legs, although spot is struggling to leave behind the area of weekly tops around 1.1250. The 10-day SMA at 1.1241 also reinforces this area of resistance.

If this area is cleared on a convincing fashion, further gains could see the critical 200-week SMA at 1.1338 re-visited in the near term.

Further out, the bearish view on EUR/USD stays unchanged as long as the 6-month resistance line, today at 1.1380, caps the upside.


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