Range Markets

  • EUR/USD regains extra steam and trades closer to 1.2100.
  • Recent monthly top at 1.2150 emerges as the next target.

Fresh buying interest pushes EUR/USD to the vicinity of the 1.2100 neighbourhood at the end of the week.

On the upside, there are no significant hurdles until the April’s top at 1.2150 (April 29). If cleared, then a potential visit to the February highs around 1.2240 could start shaping up.

The constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1944.


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