EUR/USD short-term technical outlook

16 Nis 2021

The EUR/USD pair retains its bullish stance and is still poised to challenge the 1.2000 level. The 4-hour chart shows that the pair holds above a bullish 20 SMA, providing support at around 1.1950. The longer moving averages lack directional strength well below the shorter one, while technical indicators have lost their bullish strength, but hold within positive levels. Overall, the risk remains skewed to the upside, although the pair would need to surpass 1.2010 to be able to regain its bullish stance.

Support levels: 1.1950 1.1900 1.1860

Resistance levels: 1.2010 1.2045 1.2090