EUR/USD Price Analysis: Extra gains likely above 1.1900

• EUR/USD corrects lower following Friday’s peaks.
• There is a minor resistance around 1.1950.

EUR/USD’s strong upside runs out of legs and sparks a corrective move to the vicinity of 1.1850 on Monday.

Despite the current knee-jerk, the very near-term outlook for the pair stays positive and points to further gains once recent tops near 1.1910 are cleared.

Against this, there is an interim hurdle at the 100-day SMA, today at 1.1949 ahead of the psychological 1.2000 mark, where also sits the critical 200-day SMA.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2000.

EUR/USD daily chart