EUR/USD Price Analysis: Gains remain capped by the 55-day SMA

Market news

6 March 2023

EUR/USD Price Analysis: Gains remain capped by the 55-day SMA

EUR/USD adds to Friday’s decent advance and retests 1.0660.
The 55-day SMA around 1.0715 still offers interim resistance.

EUR/USD advances for the second session in a row and reaches 2-day highs near 1.0660 on Monday.

If the rebound gets more serious, then the pair needs to clear the provisional hurdle at the 55-day SMA, today at 1.0715, to allow for extra gains to, initially, the weekly top at 1.0804 (February 14).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0326.

EUR/USD daily chart

Currencies. Daily history for Monday, March 6, 2023

Commodities. Daily history for Friday, March 3, 2023

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