Extra upside now targets 1.0970

• EUR/USD maintains the bullish move intact so far this week.
• Further gains could revisit the 55-day SMA around 1.0970.

EUR/USD picks up further pace and climbs to weekly highs near 1.0930, an area coincident with the 100-day SMA, on Wednesday.

The pair’s current momentum seems to be favouring the continuation of the march north for the time being. That said, there is a temporary hurdle at the 55-day SMA at 1.0968, which precedes the psychological 1.1000 mark and the August top of 1.1064 (August 10).

In the meantime, the pair is likely to remain bid while above the 200-day SMA, today at 1.0810.