EUR/USD has held initial test of the 55-day moving average at 1.2058 and the pair has recaptured the 1.2100 level. At press time, EUR/USD is edging higher, up 0.25% on the day, but intraday rebounds are indicated to struggle around 1.2140, per Commerzbank. Key quotes “EUR/USD has sold off to, tested and so far held the 55-day ma at 1.2058, intraday rebounds are indicated to struggle around 1.2140.” “Beyond the the 55-day ma at 1.2058 we would allow for losses to extend to 1.2014 the September high and even the 1.1969 2020-2021 uptrend, which we suspect will hold the initial test.” “Assuming that the uptrend (1.1969) and 23.6% retracement of the move up since March 2020 (1.1945) holds; medium-term the market continues to track higher whilst targeting the 1.2556 2018 high and 1.2624, the 200-month moving average, which remains our longer-term target.” “Loss of 1.1945 will imply a deeper sell off to the 1.1615/02 support, this is the 38.2% retracement and the September and November lows.” 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 DeFi protocols Uniswap and SushiSwap continue claiming new all-time highs as trading volume skyrockets FX Street 2 years EUR/USD has held initial test of the 55-day moving average at 1.2058 and the pair has recaptured the 1.2100 level. At press time, EUR/USD is edging higher, up 0.25% on the day, but intraday rebounds are indicated to struggle around 1.2140, per Commerzbank. Key quotes “EUR/USD has sold off to, tested and so far held the 55-day ma at 1.2058, intraday rebounds are indicated to struggle around 1.2140.” “Beyond the the 55-day ma at 1.2058 we would allow for losses to extend to 1.2014 the September high and even the 1.1969 2020-2021 uptrend, which we suspect will hold the initial… 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.
