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EUR/USD Price Analysis: Extra gains expected above 1.1830

FX Street
Updated:
  • EUR/USD picks up extra pace and breaks above 1.1800.
  • The continuation of the buying pressure targets 1.1830 ahead of 1.1900.

EUR/USD manages to regain the 1.18 mark and beyond on Tuesday, allowing for a potential test of recent peaks around 1.1830.

Further north of the so far monthly tops at 1.1830 (October 9) emerges 1.1917 (September 10 high) ahead of the August’s peak at 1.1965. A move back to the psychological 1.20 hurdle would require a moderate deterioration of the outlook surrounding the dollar, which is expected following the November 3 elections (and a Biden win).

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1286.

EUR/USD daily chart

 

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