The currency pair consolidates gains after reaching a high of 1.1581, supported by technical levels.
EUR/USD extended its rally, climbing toward 1.1580 as buyers maintained control. The pair reached a high of 1.1581 before consolidating gains above the 23.6% Fibonacci retracement level of its recent upward move from 1.1352.
The advance follows a sustained uptrend, with the pair previously trading near 1.1352 before accelerating higher. Technical indicators suggest continued bullish sentiment, though consolidation may precede further gains.
Market participants are monitoring the pair’s ability to hold above key support levels amid broader USD weakness.