EUR/USD Price Analysis: Target still remains at 2020 highs near 1.1500

• EUR/USD’s rally has faltered just ahead of the 1.1400 mark.
• Further north emerges the yearly tops just below 1.15 the figure.

The sharp upside in EUR/USD seems to have run out of steam in the area below the key barrier at 1.1400 he figure during last week.

A surpass of this area is expected to shift the pair’s focus to the 2020 highs at 1.1495 (March 9). However, the overbought conditions in spot could spark a corrective move in the near-term, with interim support around the Fibo retracement at 1.1186.

Supporting the positive view and looking at the broader picture, further gains are likely while above the 200-day SMA, today at 1.1015.

EUR/USD daily chart