EUR/USD Price Analysis: A close above 1.0800 opens the door to further upside

• EUR/USD extends the upside bias and reaches the 1.0800 barrier.
• A close above the latter should allow for extra gains.

EUR/USD advances to new multi-week highs around the 1.0800 hurdle on Wednesday.

The continuation of the strong uptrend could now see the weekly high at 1.0804 (February 14) revisited shortly, while the surpass of this level in a convincing fashion should face the next obstacle not before the 2023 peak at 1.1032 (February 2).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0329.

EUR/USD daily chart