• EUR/USD closed bullishly above the 200, 100 and 55-DMAs on Thursday

• Pair closed 1.1699 but peak 20-day Bollinger Bands is 1.1696

• Stretched nature of rise is limiting further gains

• Lack of a notable pullback suggests bigger rise

• Halfway point of 2026 slide from 1.2084 to 1.1409 at 1.1747 is next level

• Traders have erased a $27 billion bullish bet freeing the euro to ro rise

• FX traders have prepared for higher US CPI and that matters

•
EURUSD


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)