Look back at 1.1920

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  • EUR / USD finally manages to break above the 1.1900 mark on Monday.
  • Above 1.1900, the pair is targeting the peak of the month at 1.1920 (Nov 9).

The EUR / USD broke above the 1.19 barrier and seeks to consolidate the breakout of a multi-session range breakout.

If buying interest accelerates, the bulls are expected to focus on the monthly high at 1.1920 (Nov 9) before the recent spike at 1.1965 (Aug 18). Another visit to the 2020 high above 1.20 is not seen as favorable, at least in the short term.

Looking at the broader picture, additional gains are likely in the EUR / USD as long as it remains above the critical 200-day SMA, today at 1.1381.

EUR / USD day chart

EUR/USD

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