EUR/USD Price Analysis: Extra gains need to surpass 1.0926


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  • EUR/USD comes under some selling pressure on Wednesday.
  • The pair could accelerate its gains above the YTD peak at 1.0926.

EUR/USD seems to have met some initial resistance in the area just above 1.0900 the figure on Wednesday.

The continuation of the uptrend now needs to rapidly clear the 2023 high at 1.0926 (January 23) to allow for a test of the weekly top at 1.0936 (April 21 2022).

A sustainable break above this level could pave the way for a challenge of the key barrier at 1.1000 the figure in the not-so-distant future

In the meantime, while above the short-term support line near 1.0660, extra gains should remain in store for the pair.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0308.

EUR/USD daily chart

 

 

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