- The march north in EUR/USD appears to have met a tough barrier around weekly tops in the mid-1.1200s.
- This area of short-term resistance is also reinforced by the 100-day and 55-day SMAs at 1.1227 and 1.1231, respectively. It is worth mentioning that, despite the strong rebound, spot did not manage to close above this zone for the time being.
- That said, some consolidation is not ruled out in the short-term horizon, although the inability to surpass this area of resistance should prompt sellers to return to the market and force the pair to re-shift its attention to 1.1100 and below.
EUR/USD daily chart
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