EUR/USD: New Week, Better Luck With Cracking 1.20? Laying Out The Bullish Case

All in all, fundamentals point to a growing chance that EUR/USD bursts above 1.20.

EUR/USD Technical Analysis

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Euro/dollar is benefiting from upside momentum on the four-hour chart and trades above the 50, 100 and 200 Simple Moving Averages – all bullish signs. Moreover, the currency pair exited overbought conditions.

Overall, bulls are in control.

Above the critical 1.20 level, the next levels to watch date to March and February, and include 1.2025, 1.2065 and 1.2115.

Support awaits at the daily low of 1.1945, followed by 1.1925 and 1.1860, which accompanied the pair during its recent ascent.

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