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  • EUR/USD looks volatile and stays capped by the 1.2240 region so far.
  • Focus now is on recent tops around 1.2250 (May 19).

EUR/USD charts an inconclusive session so far, although it manages well to keep business above 1.2200 the figure  on Friday.

In the meantime, the buying bias remains well and sound for the time being. Against this backdrop, a surpass of the 1.2250 region should allow for a probable assault to the YTD peaks in the 1.2350 area (January 6).

The constructive stance on EUR/USD is forecast to remain intact as long as the pair trades above the 200-day SMA, today at 1.1962.

Of note, however, is that the daily RSI did not confirm the recent peaks, which is indicative that a deeper move could be in the offing in the short-term.

EUR/USD daily chart

 

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