EUR/USD PRICE ANALYSIS: INTERIM HURDLE COMES AT 1.1374/89

• EUR/USD resumes the upside and revisits the 1.1370 zone.
• Further upside is seen initially challenging the 1.1374/89 band.

EUR/USD gathers extra pace and surpasses the 1.1300 barrier on quite a convincing fashion on Tuesday.

In case the recovery picks up further impulse, then the pair is forecast to test 1.1374 (November 18) ahead of the minor hurdle at the 20-day SMA at 1.1389.

The probability of further losses remains unchanged as long as EUR/USD trades below the 2-month resistance line (off September’s peak) near 1.1560. In the longer run, the offered stance in spot is expected to persist while below the 200-day SMA at 1.1828.

EUR/USD DAILY CHART