EUR/USD moved high after finding support near the 1.2406 line (S1). However, the movement has been overcome by the moving average of 200 times, which proved to be a good resistance to the recent price action.
Would expect a break above the moving average of 200 periods trigger more increases extensions.
On the daily chart, there are maximum and minimum lower, below the moving averages 50 and 200 days, and this keeps the downward trend overall.
The positive difference between the daily momentum studies and the price is still intact, indicating that the downward trend in long-term is losing momentum, allowing the EUR negotiate corrective way up.
R3 - 1.25350
R2 - 1.25067
R1 - 1.24708
Daily Std. Pivot - 1.24425
S1 - 1.24066
S2 - 1.23783
S3 - 1.23424