EUR/USD closed the week higher on Friday, after a weak NFP number weighed on the dollar across the board. The pair rose to 1.1026 and hit 1.1017 again on Monday. For the pair to establish momentum to the upside we will need to see a sustained break of 1.1050 followed by confirmation with a break of key resistance at 1.1100.

Intraday support is found at 1.0950, last week’s spike high. A break of this level and 1.0900 will probably end the squeeze higher and give scope for a prolonged phase of consolidation between 1.0700 and 1.1000.