EUR/USD Price Analysis: Initial target is now 1.1370

• EUR/USD left behind the initial pessimism and is now testing 1.13.
• Further north is located the weekly top around 1.1370.

EUR/USD tested multi-day lows near 1.1250 before regaining poise and is currently flirting with the 1.13 mark once again.

The continuation of the bounce initially targets weekly tops around 1.1370 ahead of June’s high at 1.1422.

Further out, as long as the 200-day SMA, today at 1.1047, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD daily chart