- After many attempts, the EUR / USD finally breaks above the 1.2200 level.
- The 2021 high at 1.2349 now emerges as the next bullish target.
The EUR / USD upward movement remains firm and has finally managed to get past the key resistance zone near the 1.2200 level.
Buying interest is expected to revitalize following a sustained breakout in this region, allowing for additional gains and opening the door to revisit the 2021 highs near 1.2350 on the near-term horizon.
In the bigger picture, the constructive stance in EUR / USD remains unchanged as long as it remains above the 200-day SMA, today at 1.1776.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
EUR / USD daily chart
EUR / USD technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
