EUR/USD Price Analysis: Door open to the YTD peaks near 1.2350
|- After many attempts, EUR/US finally surpasses the 1.2200 mark.
- The 2021 high at 1.2349 now emerges as the next target.
The rally in EUR/USD remains everything but abated and now manages to finally leave behind the key resistance area in the 1.2200 neighbourhood.
The buying interest is expected to reinvigorate on a sustainable breakout of this area, allowing for extra gains and a tangible possibility of a revisit to the 2021 highs in the mid-1.2300s in the short-term horizon.
On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1776.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.
EUR/USD daily chart
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