Home EUR/USD Price Analysis: Scope for further gains to 1.1350
FXStreet News

EUR/USD Price Analysis: Scope for further gains to 1.1350

  • EUR/USD is adding to Wednesday’s gains and approaches 1.1300.
  • Investors shifted their focus to the 1.1350 area, or recent tops.

Following another dip to the 1.1170 region, EUR/USD has regained buying interest and is now trading at shouting distance from the key barrier at 1.13 the figure.

Renewed risk-on sentiment now carries the potential to lift the pair to the initial test in the mid-1.1300s ahead of June’s peaks near 1.1420.

The 1.1170/65 band is seen as a relevant contention area, while on the broader scenario, the positive stance is seen unaltered while above the 200-day SMA at 1.1036.

EUR/USD daily chart

 

FX Street

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.