EUR/USD Price Analysis: Rising bets for a test of 1.19 and beyond

• EUR/USD remains firm and trades closer to the 1.19 mark on Tuesday.
• Above this level emerges the August peak at 1.1965.

EUR/USD extends the rebound from last week’s lows and manages to test the doorsteps of 1.19 the figure, or 3-day tops.

Extra upside stays well on the table and a breakout of the 1.19 mark is expected to pave the way for another visit to the more relevant level at 1.1965 (August peak). If bulls remain in control, then another visit to the YTD highs beyond 1.20 should not be ruled out.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1209.

EUR/USD daily chart