EUR/USD Price Analysis: Further upside still targets 1.0641

Market news

20 May 2022

EUR/USD Price Analysis: Further upside still targets 1.0641

EUR/USD falters once again just ahead of 1.0600.
Extra recovery should target the monthly top at 1.0641.

EUR/USD alternates gains with losses in the area below the 1.0600 yardstick on Friday.

Considering the pair’s ongoing price action, the continuation of the rebound appears likely in the very near term at least. That said, the next up barrier emerges at the May high at 1.0641 (May 5) ahead of the interim hurdle at the 55-day SMA, today at 1.0792.

Below the 3-month line near 1.0860, the pair is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily charts

Currencies. Daily history for Friday, May 20, 2022

Commodities. Daily history for Thursday, May 19, 2022

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