EUR/USD Clears 1.1600 as Bulls Hold Above 100-SMA and 50% Fibo

EUR/USD pushed through the 1.1600 handle after last week's bounce from the vicinity of the 1.1500 psychological mark. The move came with buyers keeping the pair above the 100-period simple moving average and the 50% Fibonacci retracement.

The technical picture suggests the rebound is gaining follow-through, with the pair holding above key levels that had previously acted as resistance. Defense of the 1.1500 area has translated into stronger upward momentum.

Market participants are likely to focus on whether EUR/USD can sustain trade above 1.1600, with the current bullish bias tied to the pair's ability to remain above the 100-SMA and the 50% Fibo.