EUR/USD Price Analysis: Next on the upside comes 1.0617

• EUR/USD manages to gather some traction and trespasses 1.0500.
• There is an initial resistance around 1.0620.

EUR/USD picks up pace and sets aside two consecutive daily retracements and reclaims the area beyond 1.0500 the figure on Wednesday.

Further gains should initially retarget the minor barrier at 1.0617 (September 29) ahead of the weekly peak of 1.0767 (September 12).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0825.

EUR/USD daily chart