- EUR/USD’s rally has faltered just ahead of the 1.1400 mark.
- Further north emerges the yearly tops just below 1.15 the figure.
The sharp upside in EUR/USD seems to have run out of steam in the area below the key barrier at 1.1400 he figure during last week.
A surpass of this area is expected to shift the pair’s focus to the 2020 highs at 1.1495 (March 9). However, the overbought conditions in spot could spark a corrective move in the near-term, with interim support around the Fibo retracement at 1.1186.
Supporting the positive view and looking at the broader picture, further gains are likely while above the 200-day SMA, today at 1.1015.
EUR/USD daily chart
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