EUR/USD Price Analysis: Next on the upside emerges 1.1965

• EUR/USD’s upside momentum regains traction above the 1.18 mark.
• Further gains are initially targeting the August’s top at 1.1965.

EUR/USD extends the bounce off the mid-1.1700s (Wednesday) and manages to advance to the vicinity of 1.1850 ahead of the ECB interest rate decision.

That said, the continuation of the bullish move should not be ruled out and in this context the next target of note emerges at the August top at 1.1965 (August 18). Further up aligns the so fat 2020 highs near 1.2010.

Looking at the broader scenario, the bullish view on EUR/USD, in the meantime, is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1197.

EUR/USD daily chart