EUR/USD jumps from 2-month lows to test 100-DMA

By FXStreet EUR/USD has seen a turnaround over the last minutes, jumping nearly 30 pips from recently scored 2-month lows to fresh daily highs.

EUR/USD rose from a low of 1.1128 to a high of 1.1164 in recent dealings with not clear catalyst behind the move. However, the 100-day SMA offered resistance, turning the bounce in short-lived.

Meanwhile, US equities have climbed to best session levels as European peers closed with broad gains.

EUR/USD technical levels

As for technical levels, immediate supports are seen at 1.1102/00 (200-day SMA/psychological level), 1.1057 (Mar 16 low) and 1.1024 (Mar 7 low). On the other hand, next resistances could be found at 1.1164 (100-day SMA), 1.1226 (May 24 high), 1.1245 (10-day SMA) and then 1.1315 (50-day SMA/May 18 high).
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Source:: FX Street