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  • The cross has reclaimed the 1.1200 barrier and is now extending the up move to the boundaries of the 21-day SMA near 1.1230.
  • Further north aligns the 55-day SMA in the 1.1280 region and is considered the last defence for a test of April tops in the 1.1320/30 band.
  • However, the broader bearish view is expected to remain unchanged while below the multi-month resistance line, today at 1.1332. This hurdle is reinforced by the proximity of the 100-day SMA.

EUR/USD daily chart