EUR/USD Technical Analysis: Rebound now targets the 200-week SMA at 1.1338

• The pair has regained the smile today and is now advancing further north of the 1.1200 handle.
• Immediate target on the upside emerges at Monday’s top at 1.1250, while the continuation of the bull run is expected to face a tough hurdle at the 200-week SMA around 1.1340.
• In the broader picture, the bearish view on EUR/USD stays unchanged as long as the 6-month resistance line at 1.1386 caps the upside.

EUR/USD daily chart