EUR/USD Price Analysis: Bulls now target 1.1137

• EUR/USD rebounds markedly and surpasses the 1.1100 mark.
• Further up comes the weekly high at 1.1137 (March 17).

EUR/USD jumped above the 1.1100 mark on the back of the sudden change of heart around the risk complex.

That said, the recovery now targets the weekly high at 1.1137 (March 17). The surpass of this level could open the door to a test of the temporary barrier at the 55-day SMA, today at 1.1207.

The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1496.

EUR/USD daily chart