EUR/USD Price Analysis: Further upside likely above 1.0420

• EUR/USD trades in a firm note and approaches the 1.0400 zone.
• Extra gains need to clear the 9-month resistance line near 1.0420.

Wednesday’s occasional bullish attempt motivates EUR/USD to trade at shouting distance from the key 1.0400 neighbourhood.

The pair should clear the 9-month resistance line around 1.0420 on a sustainable fashion to catch fresh air and therefore challenge the November high at 1.0496 (November 28) just ahead of the round level at 1.0500.

Above the 200-day SMA (1.0372), the pair’s outlook should remain constructive.

EUR/USD daily chart