• EUR/USD rebounds further and approaches 1.1300 .
• The next target of now for bulls emerges at 1.1374.

EUR/USD adds to the recovery witnessed in the second half of the week and looks to reclaim the 1.1300 barrier.

If 1.1300 is cleared, ideally in the short term, then the focus of attention is forecast to shift to 1.1374 (high November 18) before the 20-day SMA at 11415 and the weekly peak at 1.1464 (November 15).

The probability of further losses remains unchanged as long as EUR/USD trades below the 2-month resistance line (off September’s peak) near 1.1570. In the longer run, the offered stance in spot is expected to persist while below the 200-day SMA at 1.1836.

EUR/USD daily chart