EUR/USD Price Analysis: Bets for a test of 1.1500 remain on the rise

• EUR/USD trades on a firm note and reclaims the area above 1.1400.
• Further upside could see the yearly highs near 1.1500 re-visited.

Bulls have regained the upper hand at the end of the week and are lifting EUR/USD back to levels beyond 1.14 the figure following Thursday’s decent retracement.

If the buying bias picks up pace, there is increasing chances of a move to the 2020 peaks in levels just shy of 1.15 (March 9) in the short-term horizon.

Further out, as long as the 200-day SMA, today at 1.1057, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD daily chart