Gains could accelerate above 1.0800

  • EUR/USD pushes higher and reaches new May tops at 1.0780.
  • Next on the upside comes the 3-month resistance line near 1.0800.

EUR/USD keeps the upside well and sound and prints new monthly highs around 1.0780 on Monday.

Considering the ongoing pair’s performance, the continuation of the rebound looks likely in the very near term at least. That said, the next up barrier now appears at the 3-month resistance line near 1.0800.

The breakout of this area should mitigate the selling pressure and allow for a probable move to the weekly high at 1.0936 (April 21).

EUR/USD daily chart

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