Next on the upside comes 1.0713

  • EUR/USD partially reverses Tuesday’s strong decline to the 1.0520 zone.
  • Further upside is expected to meet the next barrier at 1.0713.

EUR/USD reverses part of the weekly leg lower and advances past 1.0600 the figure on Wednesday.

Further upside in the pair could now see the weekly high at 1.0713 (December 30) revisited in the near term ahead of the December 2022 peak at 1.0736 (December 15).

The constructive outlook for EUR/USD should remain unchanged while above the key 200-day SMA, today at 1.0316.

EUR/USD daily chart

 

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