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EUR/USD Price Analysis: Focus now shifted to the 55-day SMA

FX Street
Updated:
  • The recovery in EUR/USD regained the 1.10 mark and well above.
  • The pair now faces the next hurdle at the 55-day SMA at 1.1035.

EUR/USD moved beyond 1.10 the figure for the first time since February 6th during early trade, meeting resistance in the 1.1050/55 band so far.

The pair has quickly bounced off the oversold territory and faces the next key barrier at the 55-day SMA, today at 1.1035. A close above this level is needed to allow for extra gains and spark a more serious recovery.

Further north emerges the critical barrier at the 200-day SMA just below the 1.1100 mark.

EUR/USD daily chart

 

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