Euro Surges Past 1.1600

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The euro currency continues its bullish onslaught as price breached the 1.1600 handle on Thursday.

The gains now put the euro on the front seat, posting 5 consecutive daily sessions of gains.

Further continuation to the upside could see the euro potentially testing the 1.1650 handle which is the next key price point.

However, price action has not seen any major pullback so far. This raises the risk of a correction that could potentially trap weak long positions at or near the current levels.

The next major resistance level is at 1.1800.

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