EUR/USD Price Analysis: Further upside targets 1.1382

• EUR/USD leaves behind Wednesday’s daily retracement.
• Further upside is seen initially challenging 1.1382.

EUR/USD regains the smile and the buying interest and advances to the 1.1350 zone on Thursday.

In case the recovery picks up further impulse, then the pair is forecast to test the weekly top at 1.1382 (November 30) ahead of another weekly high at 1.1464 (November 15).

The probability of further losses remains unchanged as long as EUR/USD trades below the 2-month resistance line (off September’s peak) near 1.1545. In the longer run, the offered stance in spot is expected to persist while below the 200-day SMA at 1.1819.

EUR/USD daily chart