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EUR/USD Price Analysis: Strong resistance aligns at 1.1800

FX Street
Updated:
  • EUR/USD keeps struggling to leave behind the 1.18 mark.
  • A breakout of this level should expose 1.1917 (September 10).

The buying interest in EUR/USD meet a tough barrier just above 1.18 the figure so far this week. Extra buying impetus is expected to motivate the pair to extends gains to, initially, the September 10 high near 1.1920.

Extra upside from this zone is forecasted to target the monthly tops recorded in August at 1.1965. This view, however, appears quite out of favour for the time being.

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 1.1264.

EUR/USD daily chart

 

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