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- EUR/USD Price Analysis: Further upside likely above 1.0420
EUR/USD Price Analysis: Further upside likely above 1.0420
- EUR/USD trades in a firm note and approaches the 1.0400 zone.
- Extra gains need to clear the 9-month resistance line near 1.0420.
Wednesday’s occasional bullish attempt motivates EUR/USD to trade at shouting distance from the key 1.0400 neighbourhood.
The pair should clear the 9-month resistance line around 1.0420 on a sustainable fashion to catch fresh air and therefore challenge the November high at 1.0496 (November 28) just ahead of the round level at 1.0500.
Above the 200-day SMA (1.0372), the pair’s outlook should remain constructive.
EUR/USD daily chart
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