Technical Analysis: EUR/USD finds a new high before slumping back
EUR/USD rose to a new eight-week high on Friday, climbing to 1.0981 before settling into the day’s range near 1.0930. The pair is on pace to finish in the green for a third straight week, and the Fiber is up over 2.2% from the last swing low into the 1.0700 handle.
EUR/USD has closed bullish for all but three of the last 17 straight trading days, but that run will be threatened if the pair closes below 1.0951. The Euro is trading well above the 200-day Simple Moving Average (SMA) at 1.0833, extending a bullish recovery after catching a firm bounce from a pullback to 1.0800
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