EUR/USD Price Analysis: Immediately to the upside comes 1.1120

• EUR/USD looks volatile around 1.10 following Thursday’s decline.
• There is an initial up barrier at the weekly high at 1.1121 (March 10).

EUR/USD manages to regain some composure following Thursday’s decline despite reaching fresh highs past the 1.1100 yardstick.

For the recovery to gather more serious intentions, EUR/USD needs to clear the weekly peak at 1.1121 (March 10) to allow for a test of the interim barrier at the 20-day SMA at 1.1168 ahead of the monthly high at 1.1233 (March 1).

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1559.

EUR/USD daily chart