The Euro accelerated past 1.19 following FOMC minutes, before reversing back below the 1.1875 resistance earlier this morning. The momentum as measured by the Relative Strength Index (RSI) still looks strong, especially since Eurozone PMI prints yesterday showed a bounce in business activity adding to the optimism that the EU will have sufficient supplies to vaccinate at least 50% of its populations by June. But the EURUSD will have to close above the 200-Day SMA to follow through. Alternatively, a dip below the 50-period moving average around 1.1860 will trigger an acceleration to the downside ahead of the US jobless claims due later today.
Support: 1.1860 / 1.1820
Resistance: 1.1875 / 1.19
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