EURUSD pullback into 200 Daily SMA?

٢١ ديسمبر ٢٠٢٢

EURUSD broke above the 200 daily SMA end of November for the first time since June 2021 >> red line.

We haven´t seen a pullback yet which is usually a common behavior after breaking a major resistance level.

Above current price, the round number 1.08 is waiting but price seems to be lacking momentum at the moment.

The price is already trading around the weekly Pivot Point. A break below the trendline and the Pivot would most likely lead to a pullback to the Daily 200 SMA. To the upside, the 1.08 level is the first major target but after the recent 3 months trend, a profit taking sell-off seems to be a bit more likely.