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4 May 2020
EUR/USD Price Analysis: Upside still targets the 200-day SMA
- EUR/USD is facing some renewed selling bias on Monday.
- The near-term target remains at the 200-day SMA near 1.1030.
EUR/USD’s decent recovery managed to briefly surpass the key 1.10 barrier on Friday, losing some momentum soon afterwards.
A breakout of this initial area of resistance should open the door to a potential visit to the late March tops in the mid-1.1100s.
In the same line, the downside pressure is expected to mitigate further if the 1.1030/35 band is cleared in a sustainable fashion.
EUR/USD daily chart
