EUR/USD looking strong
Further gains reinforce the impression that euro bulls have returned. The recovery yesterday of the rising daily trendline underscores this point.
EUR/USD still needs to take out $1.0635 on the intraday charts to create a new higher high, but the signs look good. Above $1.0635 the next target would be the $1.0680/$1.07 area. A bigger move higher would still target the 200-day simple moving average (SMA) at $1.0850. Only a close below $1.0570 negates this bullish outlook.