On Thursday, the EUR/USD reversed four consecutive sessions of losses and reclaimed the range above 1.0900.

If the comeback gains traction, the pair may challenge the interim 55-day SMA at 1.0951 before the weekly peak at 1.1065 (August 10). The weekly high of 1.1149 (July 27) is located further north. The pair’s negative pressure is expected to ease if this territory is cleared.

In the long run, the optimistic outlook stays constant while the price is above the 200-day SMA, which is now at 1.0787.

After bottoming out near 1.0860, the EUR/USD has regained traction.
Further recovery should aim for the mid-1.0900s at first.

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