Range Markets

  • EUR/USD stays volatile and below the 1.2100 mark on Tuesday.
  • The resumption of the uptrend targets 1.2116.

EUR/USD briefly tested the 100-day SMA near 1.2050 before attempting a rebound to the vicinity of the 1.2100 hurdle so far on turnaround Tuesday.

In the near-term, a surpass of Monday’s monthly peaks in the 1.2115/20 band carries the potential to accelerate the upside to the February’s top at 1.2243.

Above the 200-day SMA (1.1926) the stance for EUR/USD is predicted to remain positive.


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