EUR/USD Price Analysis: Immediately to the upside comes 1.1395

  • EUR/USD flirts with the 5-month line near 1.1370.
  • The next up barrier comes at the weekly high at 1.1395.

EUR/USD trades on a choppy fashion below the 1.1400 mark in the second half of the week.

Further upside in the pair needs to clear the 5-month line near 1.1370 to mitigate downside pressure and allow for another test of the weekly high at 1.1395 (February 14). Further up is seen the 200-week SMA at 1.1491 closely followed by the 2022 peak at 1.1494 (February 10).

In the longer run, EUR/USD is expected to keep the negative outlook as long as it trades below the key 200-day SMA, today at 1.1641.

EUR/USD daily chart

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