The EUR/USD extended its gains to 1.3125 early Asia, having spent the session in consolidative mode, trading in between that high and 1.3084. Buying interest resumed with Europe, as the pair advances above 1.3100 at the time being, with the 4 hours chart showing a strong upward momentum and price moving away from the broken trend line. Small stops above the high could soon be triggered, and if such, the pair will likely extend quickly towards the 1.3170 highs set on September. Steady gains above the level, will signal a continuation rally that will find next resistance around 1.3220 price zone.
Bears my come to play at least in the short term, if price falls below 1.3070 level, former weekly high, aiming then to test the 1.3010/30 price zone.View Live Chart for EUR/USD