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  • EUR/USD resumes the upside and flirts with the 1.1700 mark.
  • The next resistance of note emerges at the 55-day SMA near 1.1760.

Buyers appear to have regained the upper hand and push EUR/USD back to the 1.1700 zone on Tuesday, recording at the same time new multi-day highs.

Extra gains are seen on a serious breakout of the 1.1700 area (previous key support area). Against this, the 55-day SMA at 1.1760 now emerges as the next interim barrier. Further north, there are no levels of note until 1.1917 (September 10 high).

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1240.

EUR/USD daily chart