EUR/USD Price Analysis: Further upside seen testing 1.18 and above

  • EUR/USD keeps pushing higher and tests 1.17 and beyond.
  • Attention now shifts to the September 2018 highs above 1.1800.

EUR/USD recorded new 22-month peaks in the 1.1720 region earlier on Monday, extending the upside momentum for yet another session.

While overbought conditions might spark some correction lower in the near-term, the underlying bullish bias remains unchanged. That said, immediately to the upside emerges the 1.1815/52 band, where converge the September/June 2018 highs.

Looking at the broader picture, as long as the 200-day SMA, today at 1.1073, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD weekly chart

 

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