EUR/USD Price Analysis: Further upside likely above 1.0420
|- EUR/USD trades in a firm note and approaches the 1.0400 zone.
- Extra gains need to clear the 9-month resistance line near 1.0420.
Wednesday’s occasional bullish attempt motivates EUR/USD to trade at shouting distance from the key 1.0400 neighbourhood.
The pair should clear the 9-month resistance line around 1.0420 on a sustainable fashion to catch fresh air and therefore challenge the November high at 1.0496 (November 28) just ahead of the round level at 1.0500.
Above the 200-day Simple Moving Average (SMA) (1.0372), the pair’s outlook should remain constructive.
EUR/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.