• EUR/USD adds to the upside momentum near 1.0700.
• Extra gains initially target the weekly high at 1.0713.

EUR/USD picks up extra upside traction and flirts with the 1.0700 barrier at the beginning of the week.

If the recovery gathers extra steam, then the pair should challenge the weekly top at 1.0713 (December 30). Once cleared, the next hurdle of relevance is seen at the December 2022 peak at 1.0736 (December 15).

In the meantime, further gains remain in store for the pair while above the 200-day SMA at 1.0310.

EUR/USD daily chart