EUR/USD Price Analysis: Sell the rallies?

• EUR/USD advances to 2-day peaks near 0.9750.
• The immediate up barrier comes at the October high near parity.

EUR/USD pushes higher and flirts with the 0.9750 region ahead of US CPI.

Further gains are expected to meet the next hurdle of note at the October high at 0.9999, an area also reinforced by the proximity of the 55-day SMA and the multi-month resistance line. Spot is seen faltering around this key resistance area amidst the prospects for further gains in the dollar in the next months.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0584.

EUR/USD daily chart