EUR/USD Price Analysis: The 21-day SMA near 1.2200 caps the upside

• EUR/USD adds to recent gains and reaches 1.2190.
• Next on the upside appears the 2021 peaks around 1.2350.

EUR/USD extends the rebound to the vicinity of 1.2200, where the upside momentum eased a tad on Friday.

The upside faltered around the 21-day SMA in the 1.2190 region. A break above this level should pave the way for a potential move to 2021 tops around 1.2350 (January 6).

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1626.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart