• EUR/USD rises close to 1.1745 which is 78.6% 1.2349-0.9528 drop

• A rise above 1.1745 would suggest pair rises to 2021 high at 1.2349

• Such a break would unveil another major fibo at 1.2016

• Thursday's range 1.1654-1.1718 EBS

• In the short-term the rally may falter as it has become stretched

• The top of the 20-day Bollinger Bands is 1.1681

• Huge option expiries around 1.1680-1.1700 adds to resistance in near-term

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Key EURUSD retracement target

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