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  • EUR/USD clinches new 2020 peaks near 1.1920 on Thursday.
  • Further upside is seen visiting the key 1.20 neighbourhood.

EUR/USD has resumed the upside and it has already surpassed the 1.19 mark to record new highs in the 1.1915/20 band during early trade on Thursday.

The pair’s momentum looks firmer despite it is navigating the overbought territory. That said, while technical corrections are expected, there is also room for a more convincing advance to the psychological yardstick at 1.2000.

Looking at the broader picture, as long as the 200-day SMA, today at 1.1101, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD daily chart