EUR/USD’s latest rebound is extending higher and targeting key level at 1.3291 (09th March high).
Only a confirmation back above 1.3291 and 1.3436/60 unlocks an extended recovery into our upside target zones at 1.3630 and 1.3628 (200-day average).
Meanwhile, the bears need to close decisively below 1.3140, then 1.3000 (psychological support), in order to reopen further downside risk into 1.2630 (16 Jan swing low).
Inversely, the USD Index is continuing to hold steady above key support at 79.07 (08 March low).
Expect this level to act as one of the last points of defence for a relaunch of the greenback’s recovery which is still part of the bullish cycle into 80.73 (15th March high) and 81.78 (13th Jan swing high).