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- EUR/USD Price Analysis: Green light to 1.1100 and above
EUR/USD Price Analysis: Green light to 1.1100 and above
- EUR/USD pushes higher to weekly peaks around 1.1080.
- Interim barrier comes at the 20-day SMA at 1.1094.
EUR/USD picks up further pace and advances to multi-day tops in the 1.1070/80 band on Thursday.
As long as bulls remain in control, then the pair could attempt a test of the temporary hurdle at the 20-day SMA, today at 1.1094. Further north comes the more relevant weekly top at 1.1121 (March 10) ahead of the interim hurdle at the 55-day SMA at 1.1251. The selling pressure is seen alleviated once the pair clears the 6-month resistance line, today near 1.1280.
An overall negative outlook for EUR/USD, however, remains unchanged so long as it stays below the key 200-day SMA, today at 1.1535.
EUR/USD daily chart
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