The euro finds support from a surprising 75bp hike by the ECB. The pair has climbed above last June’s double top at 144.20, which indicates strong interest in maintaining the upward trajectory. 145.00 is the closest resistance and another breakout would pave the way for an extended rally to a near 8-year high at 147.00. In the meantime, the single currency could use some breathing room. Should buyers start to take profit, 143.20 would be a first level to expect trend followers.
