OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD Price Analysis: Upside could extend to 1.1200 and beyond

  • The recovery in EUR/USD regained the 1.11 level and well above.
  • Above the 55-day SMA, there is room for a test of 1.1200/39 band.

EUR/USD moved beyond 1.11 the figure for the first time since late January, and met a tough barrier around 1.1180 on Monday, are coincident with a Fibo retracement (of the 2020 drop) and late December tops.

There is room for the continuation of the rally as long as the pair trades above the key 55-day SMA, today at 1.1036.

That said, the next target of relevance should emerge at the 1.1200 neighbourhood ahead of the December top at 1.1239.

EUR/USD daily chart

 

GBP/USD Price Analysis: Bulls struggling to find acceptance above 1.2800 mark

The GBP/USD pair continued showing some resilience below mid-1.2700s and managed to regain some positive traction on Tuesday. The uptick lacked any st
Read more Previous

USD/CNH risks a test of 6.9400 -UOB

In light of the recent price action, FX Strategists at UOB Group believe USD/CNH could move to the 6.9400 region in the next weeks. Key Quotes 24-hour
Read more Next
Start livechat