Home EUR/USD Price Analysis: Interim hurdle aligns at 1.2173/92
FXStreet News

EUR/USD Price Analysis: Interim hurdle aligns at 1.2173/92

FX Street
Updated:
  • EUR/USD retakes the 1.21 mark and beyond on Thursday.
  • Minor hurdles emerge in the 1.2173/92 band so far.

EUR/USD manages to reclaim the area above the 1.2100 level on Thursday amidst a broad-based selling bias in the greenback.

If the rebound gathers extra steam, then the next interim hurdle emerges at the Fibo retracement (of the November-January rally) at 1.2173 ahead of the 21-day SMA, today at 1.2192.  Further up, there are no relevant levels until the YTD peaks in the 1.2350 zone.

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1620.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024