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What is the outlook for EURUSD?

Citi notes that  EURUSD achieved a bullish daily close yesterday above the pivotal resistance range, with not much in terms of topside levels until 1.2350.

“FX continues to fare better, with traditional correlations to risk assets holding less grip…EURUSD closed at 1.2217 on Tuesday, above the pivotal resistance range we flagged just below the 1.22 handle,” Citi notes.

“CitiFX Technicals flagged that a daily close above this range  would trigger a sharp acceleration higher towards the trend high from January 2021 at 1.2349,“Citi adds.