- Spot is extending the upside for yet another session and it has so far managed to retake the 1.1700 handle and returned to trade above the daily cloud for the first time since April.
- Of note is that the pair has broken above the 100-day SMA. The last time EUR/USD crossed above this indicator was in mid-December 2017, coincident with the start of the rally that took spot to the boundaries of 1.2560.
- The 1.1745/50 band is therefore back on investors’ radar ahead of the 1.1790 region.
- Furthermore, the pair’s constructive bias should stay intact while above 1.1508.
Daily high: 1.1710
Daily low: 1.1686
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