EUR/USD Price Analysis: Extra gains favoured above 108.30

• EUR/USD extends the weekly rebound well past the 1.0700 mark.
• The next hurdle of note aligns at the 3-month line near 108.30.

The upside bias in EUR/USD manages to gather extra impulse following the breakout of the key barrier at 1.0700 on Tuesday.

Further upside is initially focused on 1.0790 (daily high February 9), while the surpass of this level should motivate the pair to confront the 3-month resistance line in the 108.30 region. Beyond the latter, there are no hurdles of note until the 2023 peak at 1.1032 (February 2).

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0323.

EUR/USD daily chart