Home EUR/USD Technical Analysis: Rising odds for a test of the 21-day SMA at 1.1296

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EUR/USD Technical Analysis: Rising odds for a test of the 21-day SMA at 1.1296

FX Street

Published date: 1 Jul. 2019 | 11:17

EUR/USD has broken below the critical 200-day/week SMAs in the mid-1.1300s amidst renewed USD-strength, opening the door for a deeper pullback.
Extra downside is now on the cards and could visit the key 1.1300 neighbourhood, where sits the 21-day SMA.
On the other hand, and If spot manages to resume the upside, the next hurdle emerges near 1.1420, or last week’s highs, ahead of the more relevant 1.1450, or March tops.
This important hurdle is considered the last defence for a visit of 2019 highs in the 1.1550/70 band.

EUR/USD daily chart

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