EUR/USD Price Analysis: Rebound is now seen testing 1.19 and above
|- EUR/USD has resumed the upside and flirts with 1.1800.
- Further gains could now extend to the 2020 high beyond 1.19.
Following an ephemeral test of the sub-1.17 area on Monday, EUR/USD has now regained buying interest and clinched tops in the 1.18 neighbourhood, although losing some impetus soon afterwards.
The pair looks firmer and there is now room for another visit to the YTD peaks just above 1.19 mark ahead of the psychological yardstick at 1.2000.
Looking at the broader picture, as long as the 200-day SMA, today at 1.1093, holds the downside, further gains in EUR/USD remains well on the table.
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.