EUR/USD Price Analysis: Gains remain capped by 1.0800

Market news

12 June 2023

EUR/USD Price Analysis: Gains remain capped by 1.0800

EUR/USD advances to new multi-week highs around 1.0790.
There is a tough barrier at the 1.0800 zone so far.

EUR/USD resumes the upside bias following Friday’s marked pullback and approaches the 1.0800 region.

A more serious bullish attempt is expected to quickly surpass the so far monthly high at 1.0790 (June 12), which is closely followed by the round level at 1.0800. The latter, in turn, appears propped up by the temporary 100-day SMA at 1.0805.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0522.

EUR/USD daily chart

Currencies. Daily history for Monday, June 12, 2023

Commodities. Daily history for Friday, June 9, 2023

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