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EUR/USD Price Analysis: Solid hurdle emerges at 1.2270

FX Street
Updated:
  • EUR/USD keeps the tight range unchanged ahead of key data.
  • Extra gains seen above tops in the 1.2260/70 region.

EUR/USD remains choppy and recedes from Wednesday’s highs beyond 1.2200 the figure.

Further north of 1.2200 should meet the 1.2260/70 band, area coincident with the resistance line off the March low. A clear of this zone should expose a potential move to the 1.2300 neighbourhood in the short-term horizon.

On the broader view, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1985.

EUR/USD daily chart

 

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