EUR/USD Price Analysis: Euro pressuring 2020 highs and nearing 1.1500 figure

 

 

EUR/USD is reversing up sharply from 34-month lows as the spot is virtually erasing the 2019 losses in about three weeks of trading. There are no signs that the spot might slow down and a spike to the 2019 highs in the 1.1569/1.6000 price zone remains on the cards.

 

 

EUR/USD is pressuring the 1.1471 resistance as the London session came to an end. As the bulls remain in control EUR/USD has room to climb towards the 1.1518 and 1.1566 price levels. Support can emerge near the 1.1400/1.1363 price zone and 1.1300 figure, according to the Technical Confluences Indicator.