EUR/USD Price Analysis: Extra gains likely above 1.1360

• EUR/USD reclaims ground lost and advances to 1.1360.
• Further upside could well see the 1.1395 level retested.

EUR/USD reverses the recent geopolitical-led weakness and advances well north of the 1.1300 barrier on Tuesday.

Extra gains in the pair needs to clear the 5-month line near 1.1360 to alleviate downside pressure and allow for another test of the weekly high at 1.1395 (February 14). Further up is seen the 200-week SMA at 1.1487 closely followed by the 2022 peak at 1.1494 (February 10).

In the longer run, EUR/USD is expected to keep the negative outlook as long as it trades below the key 200-day SMA, today at 1.1632.

EUR/USD daily chart