EUR/USD Tests Key Technical Resistance at 100-Day Moving Average
The EUR/USD pair has rebounded after holding onto the support zone of 1.1400-1.1420, and is now approaching the closely watched 100-day moving average.
The daily chart suggests that this bounce is primarily corrective rather than a sustained uptrend.
The 100-day MA is converging with a previous congestion area, making it an important dynamic resistance for the pair to overcome.
Unless buyers can secure a convincing daily close above this barrier, there remains an elevated risk of renewed selling pressure.