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- EUR/USD Price Analysis: A solid resistance emerges at 0.9900
EUR/USD Price Analysis: A solid resistance emerges at 0.9900
- EUR/USD’s bullish attempt falters ahead of 0.9900 once again.
- The 55-day SMA at 0.9923 offers interim hurdle so far.
The weekly upside in EUR/USD appears to have met quite a solid hurdle around the 0.9900 region so far.
The surpass of this barrier could expose a rapid move to the interim resistance at the 55-day SMA at 0.9923 prior to the 8-month resistance line, today near 0.9940. Beyond the latter, the selling pressure is expected to mitigate.
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0522.
EUR/USD daily chart
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