Further recovery is expected to test 1.0990

  


  • EUR/USD is firmer and extends the weekly recovery above the 1.0900.
  • The continuation of the upside now faces the 1.0990 region.

EUR/USD remains well bid so far this week and it has now regained the 1.0900 mark and above.

Against this backdrop, further upside remains well on the table in the very near term with the immediate target at the January’s low at 1.0989.

Above the 55-day SMA, today at 1.1008, the selling view is expected to alleviate.

EUR/USD daily chart

 



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