EUR/USD Price Analysis: It is likely to continue rising above 1.0420

EUR/USD is trading on a firm note and is approaching the 1.0400 area.
Further gains should break the 9-month resistance line near 1.0420.

The bullish attempt on Wednesday motivates the EUR/USD trade a considerable distance from the key 1.0400 zone.

The pair should break the 9-month resistance line around 1.0420 sustainably to get some air and therefore challenge the November high at 1.0496 (28 Nov) just before the round level at 1.0500.

Above the 200-day SMA (1.0372), the outlook for the pair should remain constructive.

EUR/USD daily chart

EUR/USD

Overview
Last price today	1.0379
today’s daily change	73
Today’s daily change in %	0.51
today’s daily opening	1.0326

Trends
daily SMA20	1.0219
daily SMA50	0.9977
daily SMA100	1.0037
daily SMA200	1.0379

levels
previous daily high	1.0394
previous daily low	1,032
Previous Weekly High	1.0449
previous weekly low	1.0223
Previous Monthly High	1.0094
Previous monthly minimum	0.9632
Daily Fibonacci of 38.2%	1.0349
Daily Fibonacci of 61.8%	1.0366
Daily Pivot Point S1	1.0299
Daily Pivot Point S2	1.0272
Daily Pivot Point S3	1.0224
Daily Pivot Point R1	1.0373
Daily Pivot Point R2	1.0421
Daily Pivot Point R3	1.0448

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.