Looking at EUR/USD chart, we can see the impressive run-up it had since the fall in the 1.112 the past week, rising slowly and steadily during the start of this week, from the support to 1.125 range where it consolidated its gains and yesterday it broke through the 1.132 resistance with an impressive 1.4% surge, dwarfing all past moves.
The closest temporary overhead resistance can be found at 1.1475, and the closest support can be found at 1.1325. It is currently found trading at a 1.145 price range. Today we could expect an extension of the short-term trend and move towards and above 1.1475 as the positive momentum may play.
If, however, it does not manage to consolidate or hold above the 1.145 range, then a move towards the 1.1325 support can be expected.
