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EUR/USD Price Analysis: Upside remains firm and targets 1.1239

FX Street
Updated:
  • EUR/USD has reversed the initial pessimism and is now near 1.1190.
  • Immediately to the upside emerges 1.1213 ahead of 1.1239.

EUR/USD has once again tested levels beyond 1.1200 the figure (Wednesday) although it failed to close above this key barrier. Recent bearish attempts met decent contention in the 1.1100 area, where coincide the 200-day SMA.

There is room for the continuation of the rally as long as the pair trades above the key 55-day SMA, today at 1.1037.

That said, the next target of relevance should emerge at the weekly tops at 1.1213 ahead of the December top at 1.1239.

EUR/USD daily chart

 

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