EUR/USD begins to trend higher
EUR/USD's retracement seen since Thursday’s European Central Bank rally appears to be over, with price rising back through $1.0833 and pushing higher once more this morning.
Given the move back above the $1.0869 resistance level, further gains seem likely unless price moves back below $1.0833.
With price currently forming a doji and stochastic well overbought, there is a potential for a short-term retracement, yet this is likely to be temporary.
Key resistance levels are $1.0886, $1.0897, $1.0950 and $1.0981. A closed candle below $1.0833 would bring support levels of $1.0808 and $1.0795 into view.