EUR/USD Price Analysis: Upside expected to be corrective only

• EUR/USD adds to Tuesday’s advance beyond the 1.0800 mark.
• Another visit to the YTD low at 1.0757 should not be ruled out.

EUR/USD extends the upside momentum to the vicinity of 1.0870 on Wednesday.

If the recovery picks up extra pace, the pair might attempt a move to the weekly high at 1.0933 (April 11). Once cleared, there are no resistance levels of importance until the 55-day SMA, today at 1.1087.

While below the 200-day SMA, today at 1.1419, the outlook for the pair is expected to remain negative.

EUR/USD daily chart