Home EUR/USD Technical Analysis: Upside momentum limited by the 55-day/100-day SMAs above 1.1200

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EUR/USD Technical Analysis: Upside momentum limited by the 55-day/100-day SMAs above 1.1200

FX Street

Updated: 27 Aug. 2019 | 11:07

EUR/USD is looking to resume the upside and leave behind Monday’s moderate retracement to as low as the 1.1090 region.
In case the upside impetus picks up extra pace, spot could extend the up move to, initially, a Fibo retracement at 1.1186 while the 1.1207/10 band emerges as a more significant resistance. In this area coincide the 55-day and 100-day SMAs.
Immediately to the downside, initial contention emerges in the 1.1100 neighbourhood, where is located the 10-day SMA and weekly lows, ahead of last week’s lows in the mid-1.10s.

EUR/USD daily chart

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