EUR/USD Price Analysis: The 2021 high near 1.2350 is back on the radar
|- EUR/USD clinches new 4-month peaks in the 1.2250 zone.
- Further up is located the YTD tops in the mid-1.2300s.
EUR/USD extends the rebound to new multi-month highs around 1.2250, just to spark a corrective move soon afterwards on Wednesday.
The buying bias remains well and sound for the time being. Against this backdrop, there are no hurdle of note until the YTD peaks in the 1.2350 area (January 6).
Furthermore, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1957.
Of note, however, is that the daily RSI still did not confirm the recent peaks, which could be indicative of a bearish divergence and therefore a prelude to a corrective move in the short-term.
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.