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  • The recovery in EUR/USD regained the 1.11 mark and beyond.
  • The pair needs to close above the 55-day SMA (1.1035) to allow for extra gains.

EUR/USD moved beyond 1.11 the figure for the first time since mid-January, always bolstered by the increasing selling pressure hitting the greenback.

The pair needs to close above the 55-day SMA, today at 1.1036, in order to reassert the upside pressure.

Immediately to the upside emerges a Fibo retracement (of the 2020 drop) at 1.1140 ahead of the January 16th high at 1.1172.

EUR/USD daily chart