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EUR/USD Price Analysis: Further upside now look to 1.1920

FX Street
Updated:
  • EUR/USD finally manages to surpass the 1.1900 mark on Monday.
  • Above 1.19 the pair targets the monthly peak at 1.1920 (November 9).

EUR/USD breaks above the 1.19 barrier and looks to consolidate the breakout of the recent multi-session rangebound trade.

If the buying interest picks up extra steam, then bulls are expected to focus on the monthly top at 1.1920 (November 9) ahead of the summer’s peak at 1.1965 (August 18). Another visit to the 2020 high past 1.20 the figure is not favoured in the near-term at least.

Looking at the broader scenario, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1381.

EUR/USD daily chart

 

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