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EUR/USD Price Analysis: Extra gains seen above 1.2200

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Published date:
  • EUR/USD navigates the area of new monthly highs near 1.2180.
  • Further north is located the February’s top at 1.2243.

EUR/USD managed to clinch new monthly tops near 1.2180 earlier in the session, extending the recovery from last week’s lows in the 1.1985/80 band.

The ongoing context allows for the continuation of the uptrend, at least in the very near-term, with the next hurdle at the 1.2200 neighbourhood. Above this level, the February’s high at 1.2243 emerges as the immediate resistance for EUR-bulls.

The constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1946.

EUR/USD daily chart

 

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