- EUR/USD has broken above the multi-session rangebound theme.
- The YTD peaks near 1.1970 are the pair’s next targets.
EUR/USD has managed to attract renewed buying interest and is looking to consolidate another breakout of the 1.19 mark at the end of the week.
The pair left behind the multi-day consolidative range and broke above the 1.19 mark against the backdrop of rising selling pressure around the greenback, exacerbated following Powell’s speech at Jackson Hole on Thursday. That said, the next hurdle of note is now at the so far 2020 peaks near 1.1970 recorded earlier in the month, all ahead of the psychological 1.20 mark.
The bullish view on EUR/USD, in the meantime, is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1161.
EUR/USD daily chart
Reprinted from fxstreet , the copyrights all reserved by the original author.
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