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Trading news
4 Feb 2022
EUR/USD Price Analysis: Looking to test 1.1500… and beyond
- EUR/USD pushes higher and targets the 2022 peaks near 1.1480.
- The 200-week SMA at 1.1500 comes next on the upside.
EUR/USD keeps the rally well and sound and already trades closer to the YTD tops past 1.1480 on Friday.
The ongoing strength is now poised to extend further considering the recent price action. Against that, the YTD top at 1.1482 (January 14) emerges as the next target closely followed by the 200-week SMA at 1.1500. Between 1.1500 and 1.1600 there are no resistance levels of note, leaving the October 2021 top at 1.1692 as a potential longer-term target.
The recent breakout of the 5-month resistance line, today near 1.1415, leaves extra gains well on the cards. In the longer run, the negative outlook is seen unchanged below the key 200-day SMA at 1.1676.
EUR/USD daily chart
