EUR/USD Price Analysis: Interim hurdle emerges around 1.1870

  • EUR/USD met a moderate hurdle in the 1.1870 area, weekly tops.
  • The continuation of the trend should see the 2020 high re-tested.

EUR/USD failed to extend the weekly recovery further north of the 1.1870 area on Thursday, triggering some selling bias to Friday’s lows around 1.1780.

That said, bulls are expected to surpass the 1.1870 area in order to get another opportunity to visit the 1.19 neighbourhood ahead of 2020 peaks near 1.1920.

Looking at the broader picture, while above the critical 200-day SMA, today at 1.1120, the positive stance in EUR/USD should remain unaltered.

EUR/USD daily chart

 

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