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EUR/USD Price Analysis: Focus remains on the 2020 high above 1.2000

FX Street
Updated:
  • EUR/USD resumes the upside following Monday’s pullback.
  • Further upside now looks to the YTD tops in the 1.2010/15.

EUR/USD regains ground lost on Monday and once again puts the 1.20 hurdle to the test on turnaround Tuesday.

Initially, the continuation of the bull run looks to surpass the 1.20 mark on a sustainable fashion. Further north comes in the 2020 high around 1.2010 (September 1) ahead of a minor hurdle near 1.2030, where sits a Fibo level of the 2017-2018 rally.

Looking at the broader scenario, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1414.

EUR/USD daily chart

 

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