EUR/USD Price Analysis: Resumes the upside and targets 1.1400

  • EUR/USD reverses the recent pessimism and resumes the upside.
  • Further north emerges the next hurdle at monthly tops near 1.1400.

EUR/USD managed to reverse Tuesday’s bearish note and it has now resumed the upside to the 1.1370.75 band.

If the buying interest picks up pace, then the monthly peaks in the area just shy of 1.1400 the figure should come to the fore.

Supporting the positive view and looking at the broader picture, further gains are likely while above the 200-day SMA, today at 1.1018.

EUR/USD daily chart


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