EUR/USD PRICE ANALYSIS: ROOM FOR EXTRA GAINS NEAR-TERM

• EUR/USD records new monthly peaks around 1.2150.
• There is a minor hurdle at the Fibo level at 1.2173.

EUR/USD extends the upside to new highs in the mid-1.2100s, area last visited in late February.

In the current bullish atmosphere, further upside remains in the pipeline for the time being. That said, there is a minor resistance at the Fibo level (of the November-January rally) at 1.2173. Further up comes in the February’s top at 1.2243.

Above the 200-day SMA (1.1933) the outlook for EUR/USD is seen bullish.

EUR/USD DAILY CHART