EUR/USD Price Analysis: Extra upside needs to surpass 1.0780/90

• EUR/USD reclaims ground lost and advances beyond 1.0700.
• The 1.0780/90 band emerges as a key resistance area.

EUR/USD retakes the area above the 1.0700 yardstick and reverses two consecutive daily pullbacks.

The surpass of the 1.0780/90 region, where the May high and the 3-month resistance line are located, should alleviate the downside pressure and allow a potential move to he weekly peak at 1.0936 (April 21).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1237.

EUR/USD daily chart