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EURUSD holds three-month highs as profit taking stays limited

EURUSD climbed for a second straight day, extending Wednesday’s 0.85% gain and lifting the pair back above key technical levels near 1.1628 and 1.1700.

Reported · Written up by our desk · Major Pairs

EURUSD extended its rally for a second consecutive day and was trading at a three-month high on Thursday, according to Action Forex.

The outlet pointed to Wednesday’s 0.85% advance, its biggest daily gain since March 19, and said bulls have maintained control after the pair broke above the 200-day moving average near 1.1628 and tested levels tied to the 61.8% Fibo area at 1.1648.

Action Forex said EURUSD also probed through the 1.1700 round-number barrier, while dips on partial profit taking are likely to be contained if support around the broken 61.8% level holds.

Daily technical indicators were described as firmly bullish but overbought, with Action Forex outlining a path for the next push higher toward 1.1725 and the 1.1800 zone, depending on whether pullbacks remain limited.

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