EURUSD sharply retreated on May 19th, however buyers quickly regained control. The demand appeared at the support level at 1.2175 and yesterday's session ended at the daily highs. Looking at the D1 interval, the main currency pair is again approaching February highs at 1.2240. If buyers manage to uphold current momentum and break above this obstacle, the upward movement may accelerate even towards this year's highs at 1.2330. On the other hand, activation of the selling side here may lead to a re-test of the aforementioned support at 1.2175.
EURUSD, D1 interval. Source: xStation5
