EURUSD Price Analysis: Strong upside momentum now targets 1.0614

• EURUSD quickly sets aside Monday’s drop and surpasses 1.0400.
• The continuation of the uptrend could now look at 1.0600 and above.

EURUSD resumes the upside and clinches new multi-month peaks north of the 1.0400 hurdle on turnaround Tuesday .

The continuation of the recovery looks the most likely scenario in the very near term. Against that, a close above the always relevant 200-day SMA, today at 1.0427, should spark further gains in the short-term horizon.

In such a scenario, there are no up barriers of note until the weekly top at 1.0614 (June 27).

EURUSD daily chart