EUR/USD Price Analysis: Immediately To The Upside Is Located 1.1800

Editor • Aug 27, 2021 at 9:07 AM EDT

EUR/USD now moves within a tight trading range below 1.1800. A move past 1.1800 could expose a visit to 1.1900.

EUR/USD fades Thursday’s pullback and resumes the upside, although gains still remain limited around the 1.1780 region.

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The pair needs to surpass recent tops in the 1.1770/80 band to allow for another visit to last week’s tops in the 1.1800 neighborhood. Further up comes in the July/August peaks around 1.1900, although a move to this area is not favoured in the very near term at least.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2001.

EUR/USD daily chart

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EUR/USD

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