Due to the big part of Europe on (bank) holiday, today's European session was slower and choppy. But that didn't stop the Euro to break through 1.14 and to the new cycle-high of 1.1445, just below the February 17th high.

There was some profit taking in the European/US session overlap and, as is often the case, intraday low was posted around 16:00 GMT fix. Tomorrow is Friday, but we may still see another attempt or even break to new highs as momentum has been strong and rally does not appear to be overextended. If we do get a push higher before the weekend, strong resistance in 1.1480 - 1.1500 band (Monthly Resistance 1, February 5th high, 1.15 level) should cap it.

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