Home EUR/USD Technical Analysis: The 200-day SMA near 1.1370 still caps the upside

FXStreet News

EUR/USD Technical Analysis: The 200-day SMA near 1.1370 still caps the upside

FX Street

Published date: 11 Jun. 2019 | 11:27

EUR/USD is reversing Tuesday’s negative price action although it manages well to keep business above the critical 1.1300 the figure for the time being.
Downside pressure now appears mitigated following the recent breakout of the multi-month resistance line near 1.1280 and a probable visit to the key 200-day SMA at 1.1365 now looks likely in the short-term horizon.
When and if this area of resistance is cleared, a potential move to March’s peaks in the mid-1.1400s should return to the radar.

EUR/USD daily chart

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.