EUR/USD Price Analysis: Solid support emerges around 1.2000

• EUR/USD regains some composure and bounces off 1.2000.
• Further recovery targets recent tops around 1.2150.

EUR/USD manages to rebound from recent lows in the vicinity of the psychological 1.2000 yardstick.

The continuation of the uptrend is expected to meet the next hurdle at monthly peaks at 1.2150 (April 29). If cleared, then the Fibo level at 1.2173 emerges as a minor resistance ahead of the February’s top at 1.2243.

Above the 200-day SMA (1.1937) the stance for EUR/USD is predicted to remain positive.

EUR/USD daily chart