- EUR/USD has charted lower highs along the 30-day MA.
- A break higher is needed to strengthen the bull grip on the common currency.
EUR/USD is currently trading just below the 30-day moving average (MA) of 1.1077.
The pair has created bearish lower highs near the 30-day MA resistance in the last two weeks. Hence, a sustained break above the crucial average would imply bullish reversal.
That said, stronger evidence of trend change would be a daily close above 1.1110 (Sept. 13 high). That would invalidate bearish lower highs setup and open the doors to 1.12-1.1250.
On the downside, acceptance below Tuesday’s low of 1.0990 would put the bears back in the driver’s seat.
Daily chart
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Trend: Bullish above 30-day MA
Technical levels
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