Further gains expected beyond the 200-day SMA

  • November 25, 2022
  • EUR/USD comes under pressure and returns to the sub-1.0400 area.
  • Immediately to the upside emerges the November peak at 1.0481.

EUR/USD faces some selling pressure and slips back to the area below the 1.0400 mark at the end of the week.

A close above the key 200-day SMA, today at 1.0386, in a convincing fashion is needed to shift the pair’s outlook to positive and thus allow for extra gains to potentially visit the November high at 1.0481 (November 15) in the short-term horizon.

The surpass of the latter could put the round level at 1.0500 back on the investors’ radar.

EUR/USD daily chart