Home EUR/USD Technical Analysis: Inability to retake the 100-day SMA at 1.1265 could prompt further retracements

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EUR/USD Technical Analysis: Inability to retake the 100-day SMA at 1.1265 could prompt further retracements

FX Street

Updated: 18 Jun. 2019 | 09:42

EUR/USD continues to rebound from recent lows in the vicinity of 1.1200 the figure.
The next target to the upside emerges at the 1.1265/69 band, where coincide the 100-day and 10-day SMAs. The pair needs to surpass this area in the short-term in order to get a chance to re-test the key 200-week SMA in the mid-1.1300s, coincident at the same time with monthly peaks.
A move below 1.1200 should trigger a deeper pullback to, initially, 1.1176 ahead of 2019 lows at 1.1106 recorded on May 23.

EUR/USD daily chart

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