Euro surged broadly overnight as markets took ECB President Mario Draghi's comments positively. EUR/USD is now in an important medium term resistance zone of 1.1615/1713 and is maintaining solid upside momentum. The coming weeks will be important for the common currency. Sustained break of the current resistance zone would build up the base for a take on 1.2 handle by the end of the year. Against others, EUR/GBP also took out 0.8948 resistance and is now resuming the rise from 0.8312 towards 0.9304 key resistance. EUR/AUD also showed strong rebound which could have marked the completion of whole correction pattern from 1.5226 at 1.4421.

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