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EUR/USD Price Analysis: Extra gains expected above 1.1800

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Updated:
  • 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

 

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