EUR/USD Price Analysis: Further upside should now meet the 1.1100 mark

Market news

2 February 2023

EUR/USD Price Analysis: Further upside should now meet the 1.1100 mark

EUR/USD accelerates the rally past the key 1.1000 hurdle on Thursday.
Next on the upside for the pair comes the round level at 1.1100.

EUR/USD gathers extra buying interest and finally surpasses the key 1.1000 barrier on Thursday.

A move beyond the so far 2023 high at 1.1032 (February 2) should retarget the round level at 1.1100 prior to the weekly peak at 1.1184 (March 31 2022).

The current overbought condition of the pair, however, favours a potential knee-jerk in the very near term.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0316.

EUR/USD daily chart

Currencies. Daily history for Thursday, February 2, 2023

Commodities. Daily history for Wednesday, February 1, 2023

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