• EURUSD rallies and revisits parity zone.
• Gaining momentum could lead to a retest of the October high near 1.0100.

EURUSD picks up momentum and briefly breaks above parity, where initial resistance seems to have appeared so far.

If the pair breaks out of the parity zone sustainably, it could then challenge the temporary hurdle of the 100-day SMA today at 1.0045. Breaking above the latter exposes a move towards the October high at 1.0093 (Oct 27).

As long as it is above the 9-month resistance line, today near 0.9860, further gains seem likely.

In the long term, the bearish view on the pair should remain unchanged as long as it is below the 200 SMA at 1.0462.

EURUSD day chart