EUR/USD Technical Analysis: Support seen at the 200-day SMA in the mid-1.1300s. Focus on the bearish 'outside day'.

  • The pair is now struggling for direction after finding quite decent support in the 1.1350 region.
  • Immediately to the upside emerges monthly tops just above 1.1400 the figure ahead of the more relevant area near 1.1450, or March tops.
  • This important hurdle is considered the last defence for a visit of 2019 highs in the 1.1550/70 band.
  • Of note, however, is the bearish ‘outside day’ charted yesterday, which could be a prologue for a move lower in the next days.

EUR/USD daily chart

 

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