EUR/USD Price Analysis: Upside expected to reach 1.18 near-term

• EUR/USD resumes the upside and advances to the 1.1770 region.
• There are rising odds for a move beyond 1.18 the figure and beyond.

EUR/USD is once again flirting with recent 2-year peaks in the 1.1770/80 band on Wednesday.

The underlying bullish bias is expected to remain unchanged for the time being, with potential target at the 1.1815/52 band, where converge the September/June 2018 highs.

Looking at the broader picture, as long as the 200-day SMA, today at 1.1079, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD weekly chart