Home EUR/USD Technical Analysis: Corrective rebound now targets the resistance line at 1.1289

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EUR/USD Technical Analysis: Corrective rebound now targets the resistance line at 1.1289

FX Street

Published date: 5 Jun. 2019 | 09:52

The upside momentum in EUR/USD remains well and sound so far this week and is now flirting with the key 100-day SMA beyond 1.1270.
The continuation of the up move carries the potential to test the critical multi-month resistance line at 1.1289. Spot needs to clear this region in order to alleviate downside pressure.
Further up emerges April’s tops in the 1.1320 region ahead of the more relevant 200-week SMA at 1.1343.

EUR/USD daily chart

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