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23 May 2022

EUR/USD Price Analysis: Next on the upside comes the 55-day SMA

  • EUR/USD advances further north and flirts with 1.0700.
  • Further up now aligns the 55-day SMA at 1.0788.

EUR/USD pushes higher and prints new May peaks just ahead of the 1.0700 mark on Monday.

Considering the pair’s ongoing price action, the continuation of the rebound appears likely in the very near term at least. That said, the next up barrier now appears at the 55-day SMA, today at 1.0788 before the 3-month resistance line around 1.0860.

The breakout of this area should mitigate the selling pressure and allow for a probable move to the weekly high at 1.0936 (April 21).

EUR/USD daily chart

 

May 23, 2022

US: National Activity Index rises to 0.47 in April from 0.36 in March

The US National Activity Index rose to 0.47 in April from 0.36 in March, data released by the Federal Reserve Bank of Chicago revealed on Monday. The
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May 23, 2022

Silver Price Analysis: XAG/USD fails to break above 21DMA, but still buoyant in $22 area amid weakening buck

Spot silver (XAG/USD) has pulled back from earlier session highs in the $22.20 per troy ounce area after failing a test of the 21-Day Moving Average,
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