Home EUR/USD Price Analysis: Solid support turned up at 1.2100

EUR/USD Price Analysis: Solid support turned up at 1.2100

Published date: 4 Jun. 2021 | 15:46

EUR/USD reverses three consecutive daily pullbacks.
Decent contention emerges around 1.2100 so far.

EUR/USD manages to bounce off lows in the 1.2100 neighbourhood at the end of the week.

A serious recovery initially targets the (now resistance) line off the March lows, today around 1.2230. Further up comes in the monthly peaks near 1.2270 ahead of 1.2300 the figure.

On the broader view, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1980.

EUR/USD daily chart

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