EUR/USD: Extending March gains

Consolidation around 1.2000 has given way to the anticipated break higher, with rising intraday studies prompting a break to the 1.2035 Fibonacci retracement. Daily readings are also positive, and weekly charts continue to improve, highlighting a more robust tone and extension of March gains towards the 1.2115 retracement. Meanwhile, support is raised to congestion around 1.2000 and should underpin any immediate setbacks. A close beneath here, however, would turn sentiment Neutral and put prices back into consolidation above 1.1943/50.