EUR/USD hits 50-day moving average
The rally here has run into the 50-day simple moving average (SMA) at $1.1611, and EUR/USD is encountering some weakness as a result.
However, it has managed to clamber above the zone around $1.155, so this could be a temporary setback. Further gains target the downtrend from the May highs, which would suggest trendline resistance around $1.165. Above here, the $1.175 and $1.185 zones come into view as resistance. A move back below $1.154 would be a bearish development and potentially suggest a move back towards $1.13.