EUR/USD Price Analysis: Immediately to the upside comes in 1.1916

• EUR/USD picks up pace after once again testing the 1.17 region.
• Further north emerges the 2020 peak near 1.1920 (August 6).

EUR/USD has once again met contention in the 1.17 region, allowing bulls to return to the market and push the pair to the 1.1780 zone on Wednesday.

Against this, a sustainable breakout of the 1.18 yardstick carries the potential to extends the bullish impetus further and attempt another visit to the so far 2020 highs near 1.1920.

Looking at the broader picture, while above the critical 200-day SMA, today at 1.1113, the positive stance in EUR/USD should remain unaltered.

EUR/USD daily chart