Home EUR/USD Price Analysis: Next stop on the upside at 1.1420

EUR/USD Price Analysis: Next stop on the upside at 1.1420

Updated: 9 Jul. 2020 | 11:52

EUR/USD advanced to fresh peaks around 1.1370 on Thursday.
Further north is located the June’s top in the 1.1420 region.

The better tone in the riskier assets lifted EUR/USD to fresh multi-week highs around 1.1370 earlier on Thursday.

This price action has opened the door to a probable move to the 1.1400 mark and the June’s high at 1.1422 in the short-term horizon.

Further out, as long as the 200-day SMA, today at 1.1045, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD daily chart

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.