• EUR/USD continues to push higher and retakes the 1.0500 level and above.
• Immediately on the upside is the weekly high at 1.0641.

The pair EUR/USD continues to pick up the pace and breaks through Tuesday’s key 1.0500 barrier.

Considering the ongoing price action, a continuation of the bounce looks likely at least in the short term. Against, the next hurdle comes at the weekly high at 1.0641 (May 5) ahead of the 55-day Temp SMA today at 1.0819.

Below the 3-month line around 1.0880, the pair is expected to remain under pressure and vulnerable to further losses.

EUR/USD daily chart

Technical levels