EUR/USD Price Analysis: Rising odds for a move to 1.2100

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  • EUR/USD faces interim hurdle at the 1.2080 region.
  • The resumption of the uptrend targets the 1.2100 level.

EUR/USD keeps the bid note well in place and advances to the 1.2050 region on Thursday, always paying attention to the upcoming ECB event.

Further upside is expected to meet monthly peaks around 1.2080 (April 20). A clear break above this level should expose the 1.2100 mark.

Extra gains are forecast once the latteer is surpassed, with the next hurdle emerging at the February highs around 1.2240 ahead of the 2021 peaks in the mid-1.2300s.

Above the 200-day SMA (1.1916) the stance for EUR/USD is predicted to remain positive.

EUR/USD daily chart

 

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