EURUSD Price Analysis: Renews multi-day top above 1.0200, six-month-old resistance zone eyed

• EURUSD renews three-month high despite grinding higher of late.
• Clear break of 100-DMA, September’s high favor buyers amid bullish MACD signals.
• Nearly overbought RSI tests bulls on their way to 1.0355-70 resistance area.

EURUSD buyers keep the reins around 1.0231, the highest levels since mid-August, heading into Friday’s European session.

The major currency pair refreshed the multi-day peak the previous day on crossing the 100-DMA. However, failure to provide a daily closing beyond September’s high and nearly overbought RSI (14) tested buyers afterward.

That said, the quote’s latest upside again crossed the 1.0198 hurdle and refreshed the multi-day high.

Hence, the EURUSD bulls are on their way to a six-month-old resistance zone, around 1.0355-70 but a daily closing beyond 1.0200 becomes necessary.

In a case where the quote remains firmer past 1.0370, the 200-DMA hurdle of 1.0440 will gain the market’s attention.

Alternatively, a daily closing below the 1.0200 level could trigger the EURUSD pair’s pullback moves toward retesting the 100-DMA support of 1.0030.

Following that, the 1.0000 psychological manget and a downward-sloping trend line from late June, currently around 0.9850, also act as additional challenges for the EURUSD bears.

If the pair sellers dominate past 0.9850, lows marked during October, around 0.9630, will be crucial to watch for fresh impulse.

EURUSD: Daily chart

Trend: Limited upside expected