- EUR/USD rebounds after checking 1.1700 support level
- Buyers are eyeing a possible revisit of 2020 high near 1.1920
Early trading on Wednesday saw EUR/USD trying to challenge key support level at 1.1700 but buyers emerged and saved the day. The euro strengthened to a new intraday high of 1.1795.
A strong and sustainable move above the round number 1.1800 can open the door for further upside momentum that could carry the pair all the way for another attempt to challenge the 2020 peak at 1.1920.
Looking at where we’re at in the context of the long-term trend, the key 200-day simple moving average that stands at 1.1113 coupled with the positive sentiment around the pair should keep the bullish stance intact.
USD Index Today - last 90 days
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