EUR/USD Price Analysis: Next on the upside comes 1.0614

• EUR/USD extends the upside momentum above 1.0500.
• The June high past 1.0600 now emerges as the next target.

EUR/USD trades on a firm foot and manages to surpass the 1.0500 barrier to clinch fresh multi-month tops on Thursday.

Gains in the pair are now likely to pick up pace following the breakout of the 200-day SMA and the 10-month resistance line. Against that, there are no resistance levels of note until the June high at 1.0614 (June 27).

Further upside in EUR/USD remains on the cards while above the 200-day SMA, today at 1.0369.

EUR/USD daily chart