A test of 1.0900 remains well in place – Crypto News – Crypto News
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Bears eye a move to 1.0050 Bears eye a move to 1.0050

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A test of 1.0900 remains well in place – Crypto News

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2 years ago

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  • EUR/USD sees its recent strong advance temporarily halted.
  • The resumption of the bullish bias should target the 1.0900 level.

EUR/USD comes under pressure soon after hitting fresh 9-month peaks around 1.0870 on Friday.

Despite the ongoing knee-jerk, bulls remain well in control of the mood around the pair for the time being. Against that, further north of the so far YTD high at 1.0867 (January 13) should appear the round level at 1.0900 in the short-term horizon.

Furthermore, while above the short-term support line near 1.0550, the pair should maintain its bullish outlook.

In the longer run, the constructive view remains unchanged while above the 200-day SMA at 1.0308.

EUR/USD daily chart

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