EUR/USD Technical Analysis: the squeeze higher could test the 200-week SMA at 1.1344
- The recovery in EUR/USD is now picking up extra pace and is flirting with the key 1.1300 neighbourhood on increased USD-weakness.
- The continuation of the upside momentum could extend to monthly tops in the mid-1.1300s and the 200-week SMA, also in the hood.
- Ideally, spot should clear the multi-month resistance line, today at 1.1331, to alleviate downside pressure.
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