EUR/USD Price Analysis: Extra gains likely above 1.1380

• EUR/USD’s weekly bounce falters just ahead of the 1.1400 barrier.
• Further gains remain in the pipeline above the 1.1380 region.

EUR/USD pushes higher and trades at shouting distance from the 1.1400 neighbourhood midweek.

Further upside in the pair is expected to revisit the 5-month line near 1.1380. The surpass of this level should alleviate downside pressure and motivate the pair to edge higher with the immediate target at, initially, the 200-week SMA at 1.1491 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 1.1649.