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EUR/USD faces minor obstacle at 1.1100

Mohamed Abdelhamid 13 April, 2023 6:36 pm Forex Market, Market Update

The EUR/USD pair advances further and records a new 2023 high. The Euro extra upside could retest the round level at 1.1100 next.

The EUR/USD pair keeps the bullish bias well in place and climbs to the 1.1040/50 on Thursday, or new year-to-date peaks.

The likelihood of extra advances appears favoured for the time being. Against that, the immediate target now appears at the round level at 1.1100 seconded by the weekly high at 1.1184 (March 21 2022). Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0364.

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