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EUR/USD Price Analysis: Keeps targeting the 1.1920 level

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Published date:
  • EUR/USD’s upside momentum stays well in place on Wednesday.
  • Further up is located the monthly peak at 1.1920 (November 9).

EUR/USD pushes higher and approaches the key up barrier at 1.19 the figure on Wednesday.

On the upside, the immediate hurdle is located in the 1.19 neighbourhood. If the bullish impetus gathers extra impulse the investors should shift the focus to the monthly top around 1.1920 (November 9). Once cleared, the pair is then forecast to attempt a move to August’s high at 1.1965 (August 18).

Looking at the broader scenario, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1366.

EUR/USD daily chart

 

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