EUR/USD continues to face stiff resistance from the 200-day moving average

By Justin Low6 days ago


EUR/USD falls back towards the lows for the day at 1.1864 now

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The bounce at the start of the week continues to stall for EUR/USD as buyers are finding it tough to negotiate a breakthrough above the 200-day moving average (blue line).

That level is seen @ 1.1882 currently and though the high today hit 1.1893, the daily closing level is the one to watch in gauging whether or not the level can be broken.

Adding to that is the 61.8 retracement level of the recent downside swing @ 1.1880. And for trading today, just be aware that there are large expiries layered at 1.1900 that may also play a role in limiting any topside push in the pair.

So, what's next for the pair?

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