EUR/USD Price Analysis: Extra gains seen above 1.1670

• EUR/USD gives away some gains after testing 1.1670.
• Further up comes the 55-day SMA at 1.1711.

EUR/USD falters once again in the area of recent multi-week highs around 1.1670 on Thursday.

If this area if cleared, then the pair could attempt to take out the round level at 1.1700 the figure ahead of the interim hurdle at the 55-day SMA, today at 1.1711. Further north comes the short-term resistance line near 1.1730. A breakout of the latter should see the selling pressure mitigated and therefore allow for extra gains to the next relevant resistance in the mid-1.1700s.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1918.

EUR/USD daily chart