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- EUR/USD Price Analysis: A more convincing upside needs to clear 1.1012
EUR/USD Price Analysis: A more convincing upside needs to clear 1.1012
- EUR/USD remains stuck within a tight range near 1.0900.
- The continuation of the upside initially targets the June top.
EUR/USD navigates within a narrow range around the 1.0900 zone on the back of reduced trade conditions in response to the US Independence Day holiday.
Price action around the pair looks vacillating for the time being. Against that, spot needs to clear the June peak at 1.1012 (June 22), ideally in the near term, to allow for the resumption of the uptrend and a potential challenge of the 2023 top just below 1.1100 (April 26).
Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0602.
EUR/USD daily chart
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