EUR / USD rebound hit speed
The EUR / USD rebound from last week’s lows hit the 200-day simple moving average (SMA) at $ 1.1885, with the price unable to sustain its gains since yesterday. However, the reversal has not yet occurred, and the pair is still holding its positions on the eve of today’s minutes of the European Central Bank (ECB).
So we can see a reversal, but there isn’t enough evidence for that yet. A dip below $ 1.18 would further strengthen this view, while continued gains above $ 1.19 clearly hint at a move towards the 50-day moving average ($ 1.1973).