EUR/USD Price Analysis: Rebound is now seen testing 1.19 and above

• EUR/USD has resumed the upside and flirts with 1.1800.
• Further gains could now extend to the 2020 high beyond 1.19.

Following an ephemeral test of the sub-1.17 area on Monday, EUR/USD has now regained buying interest and clinched tops in the 1.18 neighbourhood, although losing some impetus soon afterwards.

The pair looks firmer and there is now room for another visit to the YTD peaks just above 1.19 mark ahead of the psychological yardstick at 1.2000.

Looking at the broader picture, as long as the 200-day SMA, today at 1.1093, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD daily chart