EUR/USD Price Analysis: Further upside likely above 1.0420

Market news

30 November 2022

EUR/USD Price Analysis: Further upside likely above 1.0420

EUR/USD trades in a firm note and approaches the 1.0400 zone.
Extra gains need to clear the 9-month resistance line near 1.0420.

Wednesday’s occasional bullish attempt motivates EUR/USD to trade at shouting distance from the key 1.0400 neighbourhood.

The pair should clear the 9-month resistance line around 1.0420 on a sustainable fashion to catch fresh air and therefore challenge the November high at 1.0496 (November 28) just ahead of the round level at 1.0500.

Above the 200-day SMA (1.0372), the pair’s outlook should remain constructive.

EUR/USD daily chart

Currencies. Daily history for Wednesday, November 30, 2022

Commodities. Daily history for Tuesday, November 29, 2022

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