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Forex: EUR/USD remains capped by 100-day SMA

FXstreet.com (Córdoba) - Following a limited correction, EUR/USD bounced back to the upper-side its range but lacked momentum to break above 1.3140 (100-day SMA), which remains as key level to overcome.

EUR/USD stalled just a few pips below its earlier high and settled in a range just below. At time of writing, the cross is trading around 1.3125, where it records a 0.4% gain.

Despite the technical failure, the euro managed to print yet a higher high versus the dollar, and its strongest since Feb 28. Next resistances are seen at 1.3140 and 1.3160 (Feb 28 high), while supports could be found at 1.3080 (intraday level) and 1.3040 (intraday low).

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