- EUR / USD regains momentum and breaks above 1.1800.
- Continuation of buying pressure points to 1.1830 before 1.1900.
EUR / USD managed to regain the 1.18 zone and beyond on Tuesday, allowing for a possible test of the recent spikes around 1.1830.
Above the monthly highs so far at 1.1830 (Oct 9) 1.1917 (Sept 10 high) emerges before the August peak at 1.1965. A move back to the 1.20 psychological barrier would require a moderate deterioration in the outlook for the dollar, which is expected after the November 3 election (and a Biden victory).
Looking at the broader scenario, the bullish view for EUR / USD is expected to remain unchanged as long as EUR / USD trades above the critical 200-day SMA, today at 1.1286.
EUR / USD day chart
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Credits: Forex Street
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