Further upside expected above 1.1800

  • EUR/USD’s rally remains well and sound near 1.1800.
  • Extra strength could extend to the 1.1900 area.

EUR/USD looks to extend the positive note further and flirts with the resistance line around 1.1770/80 on Thursday, .

The pair needs to surpass recent tops in the 1.1770/75 band to allow for another visit to last week’s tops in the 1.1800 neighbourhood. Further up comes in the July/August peaks around 1.1900, although a move to this area is not favoured in the very near term at least.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.

EUR/USD daily chart


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