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- EUR/USD Price Analysis: Extra gains likely above 1.1360
EUR/USD Price Analysis: Extra gains likely above 1.1360
- EUR/USD reclaims ground lost and advances to 1.1360.
- Further upside could well see the 1.1395 level retested.
EUR/USD reverses the recent geopolitical-led weakness and advances well north of the 1.1300 barrier on Tuesday.
Extra gains in the pair needs to clear the 5-month line near 1.1360 to alleviate downside pressure and allow for another test of the weekly high at 1.1395 (February 14). Further up is seen the 200-week SMA at 1.1487 closely followed by the 2022 peak at 1.1494 (February 10).
In the longer run, EUR/USD is expected to keep the negative outlook as long as it trades below the key 200-day SMA, today at 1.1632.
EUR/USD daily chart
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