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  • EUR/USD has advanced to the 1.1250/60 band on Wednesday.
  • Further north emerges the June 2019 highs in the 1.1400 neighbourhood.

The rally EUR/USD appears to have met strong hurdle in the 1.1250/60 band, clinching at the same time fresh monthly highs.

A sustainable break above this area should shift the focus of attention to the June 2019 peak around 1.1400 ahead of 2020 highs at 1.1495 (March 9).

While further gains are likely above the 200-day SMA, today at 1.1012, the pair is seen under some selling pressure as long as it remains near the overbought territory.

EUR/USD daily chart