Home EUR/USD Technical Analysis: Rally seen surpassing 1.1180 and testing the 200-day SMA

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EUR/USD Technical Analysis: Rally seen surpassing 1.1180 and testing the 200-day SMA

FX Street

Published date: 31 Oct. 2019 | 11:02

EUR/USD is prolonging the recovery so far this week and is now trading at shouting distance from monthly peaks near 1.1180.
A break above this area should put the critical 200-day SMA just below 1.1200 the figure back on the radar.
On the broader view, while above recent lows in the 1.1070 region, the short-term outlook on the pair is expected to remain positive. This area is also reinforced by the proximity of the 55-day SMA in the 1.1040 zone.

EUR/USD daily chart

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