EUR/USD forecast – technical analysis
EUR/USD has extended its rebound from 1.07, the 2024 low, rising above the 200 SMA to a 5-week high of 1.0915.
Supported by the crossing above the 200 SMA, buyers will look to push the price towards resistance at 1.0930, the later January high, ahead of 1.10, the psychological level.
Should EUR/USD face rejection at its current 1.09 level, support sits at 1.0830, the 200 SMA. A break below here could open the door to 1.08, the March low, and 1.07, the 2024 low.
EUR/USD has extended its rebound from 1.07, the 2024 low, rising above the 200 SMA to a 5-week high of 1.0915.
Supported by the crossing above the 200 SMA, buyers will look to push the price towards resistance at 1.0930, the later January high, ahead of 1.10, the psychological level.
Should EUR/USD face rejection at its current 1.09 level, support sits at 1.0830, the 200 SMA. A break below here could open the door to 1.08, the March low, and 1.07, the 2024 low.