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EUR/USD on the way to reach higher levels

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EUR/USD has been refreshing its multi-anual highs across the board, with the help of a weak US Dollar in the FX space and now we’re seeing that it’s correcting recent gains and looks forward to test a key Fibonacci area. Such zone lies between the 1.1864 and 1.1803 level, where the pair could start to gain momentum to reach the next target around the -23.6% Fibonacci retracement level at 1.2165. Of course, once it breaks above August 29th highs.

RSI indicator still hovers in the oversold territory.

EURUSDmH1.png

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