EUR/USD Targets April High After Bouncing Off 200-Day SMA Support

EUR/USD is showing renewed bullish momentum after successfully rebounding off the critical 200-day simple moving average, a key technical support level closely watched by institutional and retail traders alike. The pair's recovery from this dynamic support zone suggests that buyers remain firmly in control of the medium-term trend, with the April high now serving as the next significant upside target. The bounce off the 200-day SMA reinforces the broader uptrend structure, indicating that dip-buyers are actively defending this level. From a fundamental perspective, the euro continues to benefit from relative dollar softness as markets reassess Federal Reserve rate expectations. On the technical front, the 200-day SMA has proven to be a reliable support, and a sustained move above near-term resistance could open the door to retesting and potentially exceeding April's peak. Traders should monitor upcoming US economic releases and ECB commentary for further directional catalysts. A failure to hold above the 200-day SMA on any pullback would invalidate the current bullish setup.