• EUR/USD erodes Tuesday’s gains and revisits the 1.0920/15 band.
• There is still decent contention around the 1.0900 neighbourhood.

EUR/USD extends the choppy performance this week in line with the rest of the global markets.

Further consolidation should not be ruled out for the time being. The breakout of this theme exposes a probable move to 1.1000 ahead of the 2023 high at 1.1075 (April 14). On the downside, the 1.0900 zone emerges as quite a decent contention so far.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0382.

EUR/USD daily chart