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EUR/USD Price Analysis: Extra gains expected to test 1.0990

  • EUR/USD is prolonging the weekly recovery above the 1.0800 mark.
  • The continuation of the upside now faces the 1.0990 region.

EUR/USD remains well bid above the 1.0800 mark so far this week, although the bullish attempt appears to have met some resistance of note just below the 1.0900 mark.

Further upside thus remains well on the cards in the very near term with the immediate target at the January’s low at 1.0989.

While the 55-day SMA, today at 1.1020, caps the upside, the negative view on the pair is seen unchanged.

EUR/USD daily chart

 

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