The EUR/USD currency pair surged higher during recent intraday trading, reaching a key level of 1.1470 at the start of the week. This level aligns with the previous price target, buoyed by positive indications from the Relative Strength Index (RSI), despite the pair entering overbought territory.
The rise in the pair’s value is attributed to the strong bullish trend prevailing in the short term. Additionally, the EUR/USD continues to trade above the 50-period Exponential Moving Average (EMA), with both the major and minor trend lines providing continued upward momentum.
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