EUR/USD is off the highs, trading around 1.2250. The USD attempts a comeback amid global Coronavirus concerns and disappointing Chinese PMI. The focus this week remains on German, US data, and Georgia Senate elections. The EUR/USD pair eased on profit-taking after hitting a year’s high at 1.2309. The daily chart shows that the latest decline seems corrective, as the pair remains above all of its moving averages, which maintain their bullish bias. Technical indicators eased within positive levels, correcting overbought conditions. In the near-term, and according to the 4-hour chart, however, the pair broke below its 20 SMA, which is now flat at around 1.2270.
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