The euro climbs as traders bet on a 50bp move by the ECB in September. On the daily chart, the directional bias is still up after it bounced off the floor at 133.50. A break above 137.30 forced some sellers out, leaving the door open for an extended rally. 138.90 on the 30-day moving average is the next hurdle and its breach could attract more followers in an attempt to push towards the recent peak at 142.00. 137.10 has turned into a demand zone and the psychological level of 135.00 would be a second line of defence.
