EUR/USD Price Analysis: Extra gains in the pipeline above 1.0700
|- EUR/USD regains the smile after two daily pullbacks in a row.
- Another test of the 2023 high near 1.0930 appears likely.
EUR/USD picks up upside traction and reclaims the area beyond 1.0900 the figure on Monday.
Bets for further advance are seen rising while above the 2-month support line around the 1.0700 mark.
Indeed, the continuation of the uptrend now needs to rapidly clear the 2023 high at 1.0929 (January 26) to allow for a test of the weekly top at 1.0936 (April 21 2022). A sustainable break above this level could pave the way for a challenge of the key barrier at 1.1000 sooner rather than later.
In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0310.
EUR/USD daily chart
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