EUR/USD to surge towards 1.20 on a break above 1.1880 – OCBC

The EUR/USD pair eased higher back within the familiar 1.1800 to 1.1900 range and is seen today trading at 1.1865, up 0.15% on the day as of writing. Terence Wu, FX strategist at OCBC Bank, is closely watching the 1.1880 level as a break above the latter will open the way towards the 1.20 mark.

Key quotes

“The EUR-USD found little traction beyond 1.1750 as expected, and the subsequent reversal saw the pair taken to back into the familiar 1.1800 to 1.1900 range.”

“Focus will be on the 1.1880 resistance, with any sustained breach allowing further upside extension towards 1.2000.”