EUR/USD Technical Analysis: Decline halted around the 21-day SMA near 1.1540

• The pair is looking to add to yesterday’s gains above the 1.1600 handle on a better mood in the risk-associated complex.
• The recent decline in spot seems to have met solid contention around the 21-day SMA in the 1.1540 region ahead of the more critical area in the 1.1500 neighbourhood. The outlook on spot should remain constructive whle above the latter.
• The next target at the 1.1745/50 band has now returned to the investors’ radar ahead of the 1.1790 area.

EUR/USD daily chart

Daily high: 1.1660

Daily low: 1.1613

Support Levels

S1: 1.1569

S2: 1.1507

S3: 1.1471

Resistance Levels

R1: 1.1666

R2: 1.1702

R3: 1.1764