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 holds on to gains around 1.0770.The EUR/USD pair trades near a fresh May monthly high of 1.0780, despite German inflation soaring to a multi-decade high of 7.9% in the month. US markets will remain closed on Monday, but action is granted throughout the week.
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