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EUR/USD Off Highs, But M/T Outlook Still Bullish

EUR
  • EUR/USD faded off the day's highs, however the pair has still reversed the entirety of Tuesday’s pullback to breach resistance at 1.1076, the Apr 1 2022 high and recent Apr 14 high. This confirms a resumption of the primary uptrend and opens 1.1127, a Fibonacci retracement.
  • Note that moving average studies are in a bull-mode condition highlighting a rising trend. On the downside, key short-term support is unchanged at the 20-day EMA which intersects at 1.0930 today
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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