- EUR/USD trades closer to the weekly tops near the 1.18 mark.
- Further up comes in the September 10th high at 1.1917.
The upside pressure in EUR/USD met initial resistance in the 1.18 zone – or multi-day highs – so far this week. The move higher looks to leave behind the immediate resistance line (off 2020 highs) today around 1.1750 on a sustainable fashion.
Extra gains are still likely above this hurdle and are forecasted to attempt a move o now need to the September 10 high in the 1.1915/20 band in the near-term.
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 1.1258.
EUR/USD daily chart