The euro recoups last month’s losses as traders reposition themselves for this week’s ECB meeting.
After a few days of consolidation under the key level of 1.1990 from the daily chart, the strong momentum above this resistance is a confirmation that buyers are in control of the price action.
1.2110 would be the next target as the pair makes its way back.
An overbought RSI may lead to a brief pullback. If so, the demand area between 1.1880 and 1.1940 may see strong buying interest.
