EUR/USD Price Analysis: Immediately to the upside comes the YTD high

• EUR/USD regains upside traction and advances past 1.1000.
• Bulls continue to target the 2023 peak at 1.1075.

EUR/USD leaves behind Tuesday’s pronounced decline and reclaims the area beyond 1.1000 the figure on Wednesday.

The pair looks poised to extend the recovery further in the near term. That said,  the immediate hurdle is expected at the 2023 high at 1.1075 (April 14) seconded by the round level at 1.1100.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0404.

EUR/USD daily chart