- The EURUSD recovery appears to have found initial resistance around 1.0360.
- Exceeding this zone opens the door to additional earnings.
The EURUSD it is under heavy bearish pressure shortly after reaching new highs around 1.0360.
A continuation of the recovery seems the most likely scenario in the very short term. Conversely, further rally could motivate the pair to break above the August high at 1.0368 (Aug 10) and then head towards the ever-relevant 200-day SMA today at 1.0432.
In the long term, the bearish view of the pair should remain unchanged as long as it is below the latter.
EURUSD daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
