– EUR/USD comes under pressure following new highs near 1.0900.
– Extra upside should retarget the mid-1.0900s in the near term.
EUR/USD surrenders part of the recent advance to three-month highs just below 1.0900 the figure on Wednesday.
The continuation of the upward bias could see the weekly high of 1.0945 (August 30) revisited sooner rather than later. Once cleared, spot could challenge the psychological threshold of 1.1000.
So far, while above the significant 200-day SMA, the pair’s outlook should remain constructive.
EUR/USD daily chart
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