EUR/USD deflates following an earlier move to 1.2160. The mid-1.2000s offers decent support for the time being. EUR/USD surpassed the 1.2100 mark on Wednesday, although the bullish impulse run out of gas near 1.2160. If the recovery picks up extra steam, then the next interim hurdle emerges at the Fibo retracement (of the November-January rally) at 1.2173. Further up, there are no relevant levels until the YTD peaks in the 1.2350 zone. Further decline is expected to meet initial support in the 1.2050 region, where coincide recent lows and the 55-day SMA. A deeper pullback carries the potential to challenge the psychological support at 1.20 the figure, although a move further south of this level is not favoured in the short-term horizon. Below 1.2000 is located a Fibo level at 1.1976. On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1614. 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. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: False break of the $1819 uptrend allows for XAU/USD recovery – Commerzbank FX Street 2 years EUR/USD deflates following an earlier move to 1.2160. The mid-1.2000s offers decent support for the time being. EUR/USD surpassed the 1.2100 mark on Wednesday, although the bullish impulse run out of gas near 1.2160. If the recovery picks up extra steam, then the next interim hurdle emerges at the Fibo retracement (of the November-January rally) at 1.2173. Further up, there are no relevant levels until the YTD peaks in the 1.2350 zone. Further decline is expected to meet initial support in the 1.2050 region, where coincide recent lows and the 55-day SMA. A deeper pullback carries the potential to challenge… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
