• EUR/USD rises to 2-day highs and revisits the 1.0550 zone.
• Further upside is expected to meet the next barrier at 1.0614.

EUR/USD reverses the weekly leg lower and reclaims the 1.0500 barrier and above on Wednesday.

Further upside in the pair is now likely to pick up pace following the recent surpass of the 200-day SMA and the 10-month resistance line. Against that, there are no resistance levels of note until the June high at 1.0614 (June 27).

Further upside in EUR/USD remains on the cards while above the 200-day SMA, today at 1.0355.

EUR/USD daily chart