EUR/USD closed higher on Thursday and is challenging the 38% retracement level of the 2009-2010-decline crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are diverging but are bullish signalling that additional short-term gains are possible. If it extends the rally off June's low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.