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  • EUR/USD charted a bullish ‘outside day’ last Friday, although today’s price action seems to challenge the possibility of further gains.
  • In case the upside impetus resumes, the pair could extend the up move to, initially, a Fibo retracement at 1.1186 ahead of the 1.1211 region, where sits the 55-day SMA.
  • Immediately to the downside, initial contention emerges in the 1.1100 neighbourhood, where is located the 10-day SMA ahead of last week’s lows in the mid-1.10s.

EUR/USD daily chart