• EUR/USD regains the smile after two daily pullbacks in a row.
  • Another test of the 2023 high near 1.0930 appears likely.

EUR/USD picks up upside traction and reclaims the area beyond 1.0900 the figure on Monday.

Bets for further advance are seen rising while above the 2-month support line around the 1.0700 mark.

Indeed, the continuation of the uptrend now needs to rapidly clear the 2023 high at 1.0929 (January 26) to allow for a test of the weekly top at 1.0936 (April 21 2022). A sustainable break above this level could pave the way for a challenge of the key barrier at 1.1000 sooner rather than later.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0310.

EUR/USD daily chart

Source: https://www.fxstreet.com/news/eur-usd-price-analysis-extra-gains-in-the-pipeline-above-10700-202301301225