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EUR/USD Price Analysis: Downside alleviated above 1.0820

May 27, 2022 by admin 0 Comments

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EUR/USD advances to fresh monthly peaks near 1.0770.
Extra gains now target the resistance line near 1.0820.

EUR/USD comes under pressure soon after clinching new highs in the vicinity of 1.0770 on Friday.

Considering the pair’s current price action, the continuation of the rebound looks likely in the very near term at least. That said, the next up barrier now appears at the 55-day SMA, today at 1.0770 prior to the 3-month resistance line near 1.0820.

The breakout of this area should mitigate the selling pressure and allow for a probable move to the weekly high at 1.0936 (April 21).