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  • EUR/USD extends the side-lined theme below 1.19 on Friday.
  • Above 1.19 the pair targets the monthly peak at 1.1920 (November 9).

EUR/USD remains well immersed into the consolidative mood in the upper end of the weekly range albeit always in the sub-1.1900 area.

If sellers regain the upper hand, then there is room for the pair to slip back to, initially, last week’s lows around 1.1750 ahead of the next support area in the 1.1700 neighbourhood. On the opposite side, once 1.1900 is cleared then the focus of attention is expected to gyrate to the monthly top at 1.1920 (November 9).

Looking at the broader scenario, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1376.

EUR/USD daily chart

 

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