EUR/USD Price Analysis: Strong rebound targets 1.20 and beyond

• EUR/USD pushes higher and reach the 1.1970 region.
• The next relevant hurdle aligns at the 1.2000 level.

The recovery in EUR/USD gathers extra steam and clinches multi-day highs around 1.1970.

If the recovery picks up more serious traction, then the pair faces the next hurdle at the psychological level at 1.20. If cleared, there are some minor levels at the 100-day SMA (1.2033) and a Fibo level at 1.2064.

Above March highs in the 1.2110/15 band, the selling pressure is forecast to alleviate.

EUR/USD daily chart