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EUR/USD Price Analysis: A move to 1.20 is shaping up

FX Street
Updated:
  • EUR/USD clinches fresh 2-month peaks near 1.1940.
  • A move further up could see 1.1965 (August 18) retested.

EUR/USD picks up further pace and records new 2-month highs in the proximity of the 1.1940 level in the second half of the week.

The continuation of the bull run should put the summer’s peak at 1.1965 (August 18) back on the radar, while another visit to the 2020 high past 1.20 the figure should start to emerge on the horizon in the next weeks.

Looking at the broader scenario, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1398.

EUR/USD daily chart

 

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