⬤ EUR/USD extended its recovery this week after bouncing cleanly off the 200-day moving average. The dollar weakened further against the euro, and the pair found solid technical support at this long-term level. The weekly chart shows price lifting away from the 200DMA, confirming it's still acting as a major support line.
⬤ After the bounce, EUR/USD climbed steadily toward the top of its recent range. There's a clear resistance zone around 1.19–1.20 where price has gotten stuck before. The current move higher looks controlled rather than rushed, suggesting the pair is building momentum as it approaches this key area.
⬤ The recovery lines up well with the moving average structure on the weekly chart. The 200DMA slopes upward below price, providing support and backing the case for further upside. This bounce came after a prolonged drop earlier in the year, showing the euro's rebound was more about technical levels than sudden volatility.
⬤ The 1.19–1.20 zone matters because it's a major decision point for EUR/USD. A clean break above would signal a real shift in the medium-term trend and pile more pressure on the dollar. If it fails to break through, though, the pair stays range-bound and the next move remains unclear.
