The EUR/USD came within range of 1.0840 in Tuesday’s early recovery before paring back into the 1.0800 zone. The pair remains bolstered by the 200-hour Simple Moving Average (SMA) near 1.0760. The Fiber continues to grind out a near-term bullish recovery, but technical resistance continues to build as lower highs weigh.
EUR/USD remains trapped on the bearish side of the 200-day SMA at 1.0830, and the pair’s recent descent into 1.0700 represents the EUR/USD’s lowest bids since November. The pair is set for a fifth consecutive bullish close but is still down around 3% from December’s peak at 1.1140.
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