EUR/USD Trades Lower, Needs 20-Day SMA Break for Recovery
EUR/USD slipped to 1.1567 during European trade on Friday as the US dollar rebounded slightly. Analysts note that a sustained recovery would require a break above the 20-day simple moving average.
EUR/USD edged lower to 1.1567 in European trading on Friday, giving back some of the previous session's gains. The pair remains under pressure as the US dollar staged a modest rebound following Thursday's weakness.
From a technical perspective, the pair has been trading below its 20-day simple moving average (SMA), and a sustained recovery higher would likely require a decisive break above that level. Until then, the short-term bias remains tilted to the downside.
Traders are watching for any catalyst that could push the pair above the 20-day SMA, which currently acts as a key resistance. A failure to break higher could see the pair test support near the 1.1500 region.
Source: FXStreet Forex News