EUR/USD Price Analysis: The 5-month line near 1.1360 caps the upside

  • EUR/USD flirts with the 5-month line near 1.1370.
  • The next up barrier comes at the weekly high at 1.1395.

EUR/USD fades the initial spike to the 1.1390 region on Monday.

Extra gains in the pair needs to clear the 5-month line near 1.1370 to alleviate downside pressure and allow for another test of the weekly high at 1.1395 (February 14). Further up is seen the 200-week SMA at 1.1487 closely followed by the 2022 peak at 1.1494 (February 10).

In the longer run, EUR/USD is expected to keep the negative outlook as long as it trades below the key 200-day SMA, today at 1.1637.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.1334
Today Daily Change 77
Today Daily Change % 0.08
Today daily open 1.1325

 

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