The EUR/USD has recovered to 1.0611, its lowest level since last Thursday, and then jumped rapidly to the upside, touching daily highs as Wall Street equity prices recovered.
The US Dollar fell across the board as risk sentiment improved. The DXY is trading near 104.00, down 0.25% for the day.
The EUR/USD is back above the 1.0640 (20-hour SMA) and approaching the 1.0660/70 resistance level.
A higher break would pave the way for a test of 1.0700. The current high at 1.0735/40 is shown below. A break away from 1.0620 should bolster the bullish case.
On the other hand, another failure at 1.0670 should indicate that the consolidation range with support at 1.0580 remains in place.
Daily SMA20 |
1.0553 |
Daily SMA50 |
1.028 |
Daily SMA100 |
1.0111 |
Daily SMA200 |
1.0332 |