EUR/USD Price Analysis: Initial hurdle appears at the 55-day SMA

• EUR/USD adds to the weekly recovery beyond the 1.0600 mark.
• The 55-day SMA at 1.0715 emerges as the next up barrier near term.

EUR/USD extends the optimism seen at the beginning of the week and looks to extend the breakout of 1.0600 the figure on Tuesday.

There is a provisional up barrier at the 55-day SMA at 1.0715 prior to the weekly high at 1.0804 (February 14). A convincing move above this level could open the door to extra gains in the short-term horizon.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0328.

EUR/USD daily chart