EUR/USD Breaks Higher: Can Bulls Sustain Momentum Above 1.0650?

EUR/USD surged 0.4% to 1.0650 during European trading hours, breaking above key resistance levels as European equity markets posted strong gains. Spain's IBEX and Italy's FTSE MIB led the advance, closing at record highs, while France's CAC also registered solid performance. The euro's strength reflects improved risk sentiment across European markets and technical breakout signals. The pair cleared the 1.0620 resistance zone convincingly, with momentum indicators turning bullish on the hourly charts. Immediate resistance now sits at 1.0680, coinciding with the 50-day moving average, while support has formed at 1.0620. Traders are watching whether the pair can maintain momentum above the breakout level, as sustained trading above 1.0650 could open the path toward 1.0700. However, any reversal in European equity performance or renewed dollar strength could cap further gains.