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EUR/USD Price Analysis: Decent support turned up around 1.2100

FX Street
Updated:
  • EUR/USD once again rebounds from the 1.2100 region.
  • There is a minor hurdle at the Fibo level at 1.2173.

Buyers seem to have regained the upper hand on Monday and push EUR/USD back above the 1.2100 barrier so far.

Extra gains need to, initially, clear the minor hurdle at 1.2173, where lies a Fibo level of the November-January rally. Further north comes in last week’s tops beyond the 1.2200 mark ahead of the May peaks in the 1.2260/70 and

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 1.1988.

EUR/USD daily chart

 

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