EUR/USD Price Analysis: Next on the upside comes 1.1464

• EUR/USD trades within a volatile session around 1.1340.
• Next on the upside targets the weekly high at 1.1464.

EUR/USD trims losses to the 1.1300 neighbourhood and now manages to return to the 1.1340 region on Wednesday.

In case the recovery picks up further impulse, then the pair is forecast to revisit the weekly high at 1.1464 (November 15). The surpass of this area is seen targeting the round level at 1.1500 ahead of the 55-day SMA, today at 1.1535.

The probability of further losses remains unchanged as long as EUR/USD trades below the 2-month resistance line (off September’s peak) near 1.1560. In the longer run, the offered stance in spot is expected to persist while below the 200-day SMA at 1.1823.

EUR/USD daily chart